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AIMD-94-125R 1 (1994-06-07)

handle is hein.gao/gaobackon0001 and id is 1 raw text is: (3 United States GAO General Accounting Ofice Washington, D.C. 20548 Accounting and Information Management Division B-257423 June 7, 1994 Mr. Jackie R. Crawford Auditor General of the Air Force Dear Mr. Crawford: This letter documents the primary points discussed in our March 30, 1994, briefing to you on our review of certain audit work conducted by your organization. Specifically, the briefing focused on our review of the fiscal year 1992 audits of the Air Force's consolidated financial statements and the revolving fund activities operated by the Air Force as part of the Defense Business Operations Fund (DBOF). The Chief Financial Officers (CFO) Act of 1990 (Public Law 101-576) mandated that the Department of Defense (DOD) Inspector General, or an external independent auditor selected by the DOD Inspector General, conduct and report on the results of those audits. As you know, the DOD Inspector General arranged for the Air Force Audit Agency (AFAA) to perform the audit work on the Air Force's fiscal year 1992 consolidated financial statements and much of the audit work on the Air Force-operated DBOF activities. These audit efforts were AFAA's first endeavors to comprehensively evaluate major Air Force financial operations. We reviewed this audit work because one of our primary long-term goals is for the federal government to achieve significantly improved financial management through properly implementing the CFO Act. Our review focused on AFAA's compliance with the audit provisions of the CFO Act and related professional audit standards. We did not audit any accounts, line items, or disclosures in the financial statements of either the Air Force or DBOF activities operated by the Air Force. Rather, we limited our work to reviewing and evaluating the work of AFAA and providing consultative assistance. GAO/AIMD-94-125R Air Force FY 1992 Financial Audits

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