Defense Industrial Fund - Communications Services Activity Financial Statements for FY 1991
Abstract
We are providing this final report for your information and use, and for use by Congress. This audit was required by the Chief Financial Officers Act of 1990. The Act requires the Inspector General to render an opinion on the fairness of the financial statements of the Defense Industrial Fund - Communications Services Activity, in accordance with DoD accounting policies and procedures and generally accepted accounting principles, and to report on the adequacy of internal controls and compliance with laws and regulations. The audit determined that, with certain exceptions detailed in Part I, the principal Statements present fairly, in all material respects, the assets, liabilities, and net financial position of the Defense Industrial Fund - Communications Services Activity as of September 30, 1991, and the results of its operations, cash flows, and reconciliation to budget for the year then ended, in accordance with DoD accounting policies and procedures. With one exception, the Notes to the Financial Statements generally meet the requirements of the "DoD Guidance on Form and Content of Financial Statements on FY 1991 Financial Activity,', November 13, 1991, and Title 2 of the General Accounting Office's "Policy and Procedures Manual for Guidance' of Federal Agencies." We also concluded that there were internal control weaknesses in classifying accounting transactions and accounting for leased assets, and that the Communications Services Activity was not in compliance with all applicable regulations. However, managers of the Activity were taking steps to correct the weaknesses.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 30, 1992
- Accession Number
- ADA377787
Entities
Organizations
- Office of the Inspector General, U.S. Department of Defense