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AFMD-84-2 1 (1983-11-22)

handle is hein.gao/gaobabein0001 and id is 1 raw text is: 




BY THE COMPTROLLER GENERAL



Report To The Congress


OF THF UNITED STATES




Review Of The Pension Benefit Guaranty

Corporation's Progress Towards Improving

Accounting And Internal Control Weaknesses


GAO is required to audit the financial statements
of the Pension Benefit Guaranty Corporation at
least once every 3 years. GAO's two prior audits
identified major accounting and internal control
weaknesses which prevented it from expressing
an opinion on the Corporation's financial state-
ments.

This report on GAO's fiscal year 1983 audit
shows that the Corporation has initiated action to
correct these weaknesses. However, these ac-
tions are still in process and previous weak-
nesses have not been completely overcome. As a
result, GAO curtailed its audit and, again this
year, will not be expressing an opinion on the
CQrporation's financial statements.

Consequently, this report is limited to an evalua-
tion of the status of actions to improve the Corpo-
ration's accounting and internal control proce-
dures. At the time of GAO's audit, the Corpora-
tion had not completed preparation of its fiscal
year 1983 financial statements.                              I   lllll  l



                                                                 122892







               ;,- .GAO/AFMD-84-2
                                                        NOVEMBER 22, 1983

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