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AFMD-93-6ML 1 (1993-01-05)

handle is hein.gao/gaobachqj0001 and id is 1 raw text is: 




GAO


United States
General Accounting Office


European Office


c/o American Consulate General
APO New York 09213


B-249197


January 5, 1993


General David M. Maddox
Commander-in-Chief
U.S. Army, Europe (USAREUR)


I 111111 1   Il r I
   148407


Dear General Maddox:

We recently completed a comprehensive review of the U.S.
Army's financial management systems and operations. The
primary objectives of our review were to assess the Army's
internal control systems  and-audit-the Army's-fiscal year
1991 financial statements pursuant to the Chief Financial
Officers Act of 1990 (Public Law 101-576). Our reports on
the overall results of this review were issued in August
1992.'

As a part of that review, we performed audit work at the 5th
Regional Finance and Accounting Office (5th RFAO),
headquartered at V Corps (Fifth Corps), Frankfurt, Germany,
and selected finance support units and engineering and
logistics organizations within V Corps. This letter provides
additional details on the results of our internal control
reviews at the 5th RFAO and V Corps locations we visited.

Specifically, we found the following internal control
weaknesses.

-- Ineffective internal controls throughout the V Corps' real
   property financial reporting process resulted in year-end
   account balances not reflecting all capitalized costs.




'Immediate Actions Needed to ImDrove Army Financial Operations
and Controls (GAO/AFMD-92-82) and Examination of the Army's
Financial Statements for Fiscal Year 1991 (GAO/AFMD-92-83).


                                               GAO/AFMD-93-6ML


-~6~*O0 .54  P90


146401-

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