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GGD-80-35 1 (1980-05-16)

handle is hein.gao/gaobabaok0001 and id is 1 raw text is: BY THE COMPTROLLER GENERAL Report To The Congress OF THE UNITED STATES More Stringent Revenue Sharing Act Requirements Are Upgrading State And Local Governments' Audits The amended Revenue Sharing Act and the Office of Revenue Sharing's quality control efforts are benefiting State and local govern- ments by requiring State audit agencies and public accounting firms to upgrade their audit- ing standards. Some governments will receive their first independent audits while others are taking steps to improve their financial account- ing systems. Due to the time required to revamp their audit operations, some State agencies with sub- standard audit practices will not be able to complete acceptable audits in a timely man- ner. GAO therefore recommends that the Con- gress amend the Revenue Sharing Act to pro- vide waivers to governments audited by these State audit agencies. GAO also recommends that the Secretary of the Treasury take steps to improve the Office of Revenue Sharing's statistical control sys- tem for the 11,000 audits required by the act. , D S2 jo 112327 GGD 80-35 1410couMAY 16, 1980

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