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Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2001 and 2000

GAO-02-390 Published: Mar 01, 2002. Publicly Released: Mar 01, 2002.
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Highlights

GAO reviewed the financial statement audit reports for the American Battle Monuments Commission (ABMC) for fiscal years 2000 and 2001. GAO found that (1) the consolidated financial statements for fiscal year 2001 and comparative consolidated totals for fiscal year 2000 are presented fairly in conformity with U.S. generally accepted accounting principles; (2) although internal controls should be improved, AMBC had effective internal control over financial reporting and compliance with laws and regulations as of September 30, 2001; and (3) there was no reportable noncompliance with laws and regulations.

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Accounting standardsAuditing standardsFinancial managementFinancial recordsFinancial statement auditsInternal controlsReports managementTrust fundsWar memorialsDeferred maintenance