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AIMD-00-266R 1 (2000-07-28)

handle is hein.gao/gaobaalkl0001 and id is 1 raw text is: I GAO Accountability * Integrity * Reliability United States General Accounting Office Accounting and Information Washington, DC 20548 Management Division B-285870 July 28, 2000 Mr. James F. Manning National Director Congressional Award Foundation Subject: Congressional Award Foundation: Management Action Still Needed to Establish and Document Control Requirements and Related Procedures Dear Mr. Manning: In May 2000, we issued a report' expressing our opinion on the Congressional Award Foundation's fiscal year 1999 financial statements and on management's assertions regarding the Foundation's system of internal control as of September 30, 1999. We also reported on the results of our tests of the Foundation's compliance with selected provisions of laws and regulations during fiscal year 1999. We conducted our audit pursuant to the Congressional Award Act, as amended (2 U.S.C. 807), and in accordance with generally accepted government auditing standards. The purpose of this management letter is to reemphasize the continuing need for the Foundation's management to strengthen internal controls, especially in the five areas previously reported to you in our July 1999 management letter.2 Results in Brief In conducting our 1999 audit, we found that the Foundation had made progress at the organization and system levels in addressing internal control weaknesses. Specifically, during fiscal year 1999, the Foundation hired a new employee to help draft control objectives and procedures. Also, the Foundation began implementing a new accounting system, which among other things has the capability to flag duplicate facsimile invoices, one area of control weakness previously reported. However, Foundation management has not yet established and documented internal control requirements and related procedures as previously suggested for management and 1Financial Audit: Congressional Award Foundation's 1999 and 1998 Financial Statements (GAO/ AIMD-00-156, May 15, 2000). 'Congressional Award Foundation: Management Action Needed to Establish Control Requirements and Related Procedures (GAO/AIMD-99-224R July 15, 1999). GAO/AIMD-00-266R Congressional Award Foundation

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