FINANCIAL AUDIT: Examination of IRS' Fiscal Year 1995 Financial Statements.

Abstract

In accordance with the Chief Financial Officers (CFO) Act of 1990, the Internal Revenue Service (IRS) prepared the accompanying Principal Financial Statements for the fiscal years ended September 30,1995 and 1994. In our attempt to audit these principal financial statements for fiscal year 1995, we found the following. * We are unable to give an opinion on the fiscal year 1995 Principal Financial Statements of the IRS because of the limitations on the scope of our work, which are discussed below. Thus, the Principal Financial Statements may be unreliable. * Material weaknesses in internal controls resulted in ineffective controls over safeguarding assets from material loss, assuring material compliance with laws governing the use of budget authority and with other relevant laws and regulations, and assuring that there were no material misstatements in the Principal Financial Statements. * We are unable to report on compliance with laws and regulations because of limitations on the scope of our work.

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Document Details

Document Type
Technical Report
Publication Date
Jul 01, 1996
Accession Number
ADA344773

Entities

People

  • G. M. Holloway

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Biomedical

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  • Business Administration
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Fields of Study

  • Business

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  • Defense Financial Management and Audit.
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