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091299 1 (1977-07-29)

handle is hein.gao/gaobacwcf0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON REGIONAL OFFICE FIFTH FLOOR 803 W ST BROAD STREET FALLS CHURCH, VIRGINIA 22046 0q 2qq July 29, 1977 Mr. Walter C. DeVaughn Assistant Public Printer Management and Administration U.S. Government Printing Office Washington, D C. 20401 Dear Mr. DeVaughn We recently completed our examination of the GPO financial statements As in previous years, we would like to discuss some observations that will not be included in our annual report to the Congress but which warrant your attention. These matters, which did not affect our opinion on the financial statements, are presented to provide constructive ideas for improving internal accounting con- trols and operational efficiency. DESTRUCTION OF COMPUTER TAPES Our examination of yearend balances for deferred sub- scription income (account 246,2, $12.5 million), acciued annual leave (accounts 215.1 and 215.3; $5 8 million) and sick leave ($21.5 million) was hampered because according to GPO personnel the computer tapes supporting these yearend balances were destroyed prior to the start of our ievlew Although we were able to devise other methods to assure ourselves that the balances of these accounts were reasonably stated, they were very time-consuming. Future destruction of supporting tapes could make independent verification unfeas- ible and result in exceptions to these accounts in subsequent years We realize GPO cannot keep all computer tapes, but tapes supporting the yearend statement totals should be retained for the annual financial statement audit. INCORRDCT PRICES ON PUBLICATIONS RECEIPT AND CONTROL SYSTEM TAPE Our review of the publications for sale inventory account (account 051 2; $19.4 million) disclosed differences between prices shown on the Publications Receipt and Control

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