About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

090130 1 (1976-08-26)

handle is hein.gao/gaobacvwh0001 and id is 1 raw text is: 


            UNITED STATES GENERAL ACCOUNTING OFFICE
                  WASHINGTrON REGIONAL OFFICE
                         FIFTH FLOOR          7
                      803 WEST BROAD STREET
                   FALLS CHURCH, VIRGINIA 22046


                                                AUG 2 G 1976 oq0I30
Mr  Garth Marston, Acting Chairman
Federal Home Loan Bank Board
320 First Street, NW.
Washington, D.C.   20552

Dear Mr. Marston:

     We recently completed  our examination of the Federal
Home Loan Bank Board and  Federal Savings and Loan Insurance  M
Corporation's 1975 financial  statements   As in past years,
we would like to bring  to your attention observations made
during our audit which wil1  not be included in our report
to the Congress.  These matters  did not affect our op-inion
on the financial statements  and are presented to provide
constructive ideas for  improving internal accounting con-
trols and operational efficiency

     The management summary  includes suggestions for
(1) enhancing the  independence of the internal auditors,
(2) improving controls  over various accounts including
imprest fund expenditures;  and (3) improving the management
of fixed assets and cash    The summary also suggests that
the Board consider  including GAO opinion on the financial
statements in its annual  report    All matters included
in the management summary have  been discussed with Board
officials and in many  instances corrective action has
already been taken.

     We wish to express our  appreciation for the many
courtesies extended to  our representatives by Board per-
sonnel tnroughout our examination    We will be happy to
discuss the management  summary with you or furnish addi-
tional information that might  assist in your consideration
of our observations.

                            Sincerely yours,



                            David P. Sorando
                            Regional Manager

Enclosure


                . 09030

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Already a HeinOnline Subscriber?

profiles profiles most