T-AFMD-91-6: Published: May 30, 1991. Publicly Released: May 30, 1991.

GAO discussed the Financial Accounting Standards Board (FASB) exposure draft entitled "Disclosures about Market Value of Financial Instruments." In a series of reports, GAO identified accounting, auditing, and internal control weaknesses, which continue to be a significant cause of bank failures. These breakdowns in corporate governance led to bank failures and highlighted a seriously flawed warni...

T-AFMD-91-6: Published: May 20, 1991. Publicly Released: May 20, 1991.

GAO discussed the status of the Bureau of Indian Affairs' (BIA) efforts to implement a congressionally mandated Indian trust fund reconciliation and audit project and improve financial management. GAO noted that: (1) BIA divided the project into two phases; (2) the first phase will cover over 500 tribal accounts belonging to 37 of 254 tribes; (3) the first phase will also cover 17,000 individual I...