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089582 1 (1975-06-27)

handle is hein.gao/gaobacvpy0001 and id is 1 raw text is: 



               UNITED STATES GENERAL ACCOUNTING OFFICE
    aI               WASHINGTON REGIONAL OFFICE
                           A.FIFTH FLOOR
                         803 WEST BROAD STREET.
                       FAL.LS CHURCH, VIRGINIA 22046







                                                         LM089582
Mr. Ray  K. 4otsenoccket
Assistant  Aunzinistator  tor
  Ainnistration
National  Credit Union ituinistration
2025 A Street,  Pa.
washington,  D.C.  20450

E M. octncocker:

     We  have reviened  selected ascects  K  the interhal
control  system in elact   at tne National  Cre2it union
Administration  in cOnnection  with out  interia audit
work.

     On  the oasis of cu   review, we believe  crtain
internal  controls should  be strengthened.  Y! instituting
ienrovenents  in one areas  outlined  olow,  w? nel iove
tho Adinistation couln acninve a   or af : ctive systen
of  internal control over  its onotations.  .At the conclusion
of our  intzrim work we discussed  the coints  develonoed
with  the staff of the  Division of Vinancial  >angeent
and have  induced  their  comments below.

reed  to ivmmzove accountin;
control  over coliectaeas

     The  Administratin   reCivs V ubZtantial Launts of
funds  at its 6asnington   Meadauarters tron various sources.
It  is, therefore. inncortant that effective  internal controls
be maintained  over these  funds to mianiTize the possibi  ities
of misuse  and to assure  tnat all funds  are zccounted  for
properly.

     AMong  the more  imorant   elements  of internal control
in the  handling of receipts  is promptly  placing the funds




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