Ouick Reaction Report on Financial Reporting Procedures for the Defense Homeowners Assistance Fund

Abstract

We are issuing this quick-reaction report as part of our Audit of the Defense Homeowners Assistance Fund's (the Fund's) Financial Statements for FY 1992 (Project No. 2FH-2002). The objective of the audit is to determine whether the Fund's financial statements are presented fairly in accordance with generally -accepted accounting principles. As part of the audit, we evaluated the internal control procedures used by the Defense Finance and Accounting Service (DFAS) to prepare the Fund's FY 1991 financial statements. DFAS does not have adequate internal controls for preparing the Fund's financial statements. As a result, the FY 1992 financial statements may contain material misstatements or omissions.

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Document Details

Document Type
Technical Report
Publication Date
Dec 28, 1992
Accession Number
ADA377179

Entities

Organizations

  • Office of the Inspector General, U.S. Department of Defense

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  • Accounting
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Fields of Study

  • Business

Readers

  • Defense Financial Management and Audit.