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AFMD-82-42 1 (1982-06-23)

handle is hein.gao/gaobabdkp0001 and id is 1 raw text is: 


BY THE COMPTROLLER GENERAL



Report To The Congress

OF THE UNITED STATES








Disclaimer Of Opinion. On The Financial

Statements.Of The Pension Benefit

Guaranty Corporation For The Fiscal Year

Ended September 30, 1980


GAO disclaims an opinion on whether the
Pension Benefit Guaranty Corporation's
financial statements present fairly its finan-
cial condition at September 30, 1 980, and
the results of operations and changes in
financial condition for the fiscal year then
ended. The disclaimer of opinion is because
of material accounting and estimating prob-
lems, internal control problems, and other
factors beyond the Corporation's control
which have prevented it from developing
reliable financial statements.

GAO recommends that the Executive Direc-
tor, Pension Benefit Guaranty Corporation
improve the reliability and fair presentation
of the financial statements by initiating
efforts to strengthen internal controls and
to improve recordkeeping and financial state-
ment preparation.


    , V,0 STP



    00

                                                         GAO/AFMD-82-42
    -ICCO UJNs                                           JUNE 23,1982

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