tailieunhanh - FINANCIAL AUDIT First Audit of the Library of Congress Discloses Significant Problems _part1

Kế toán tổng hợp Văn phòng Washington, DC 20648 Phòng Kế toán và quản lý tài chính l danh dự James H. Billington thư viện của Quốc hội Kính thưa Tiến sĩ Billington: đáp ứng với yêu cầu của bạn để cung cấp cho bạn với một sự hiểu biết tốt hơn về vấn đề tài chính của thư viện, chúng tôi được kiểm toán hoạt động tài chính của Thư viện Quốc hội | GAO 11nited States General Account iiIg Office__ Report to t he Librarian of Congress August 1991 FINANCIAL AUDIT First Audit of the Library of Congress Discloses Significant Problems 144672 GAO AFMD91 13 This is trial version This is trial version GAO United States General Accounting Office Washington . 20548 Accounting and Financial Management Division B-234502 August 22 1991 The Honorable James H. Billington Librarian of Congress Dear Dr. Billington In response to your request to provide you with a better understanding of the Library s financial affairs we audited the financial operations of the Library of Congress. Specifically as part of our work we examined available financial information on the Library and reviewed its internal accounting controls and its compliance with laws and regulations for the fiscal year ended September 30 1988. This report covers the results of our audit for fiscal year 1988 and points out steps that the Library has taken and needs to take to improve its financial operations. This was the first attempt to audit the financial operations of the Library. Because audited opening balances were not available for the Library s statements of operations and cash flows our review was limited to the consideration of financial information in its consolidated statement of financial position as of September 30 1988. Further practical limitations on our ability to apply certain procedures required by generally accepted government auditing standards precluded US from giving an opinion on this statement. Otherwise our work was performed in accordance with generally accepted government auditing standards. Results in Brief We found the Library s financial and accounting records to be in such poor condition that we were unable to audit significant account balances. Because of weaknesses in the Library s financial management operations its ability to account for and control its collection of an estimated 89 million