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GAO-05-591R 1 (2005-06-23)

handle is hein.gao/gaocrptarrf0001 and id is 1 raw text is: A Aco untability * Integrity * Reliability United States Government Accountability Office Washington, D.C. 20548 June 23, 2005 The Honorable Gwendolyn Sykes Chief Financial Officer National Aeronautics and Space Administration The Honorable Robert W. Cobb Inspector General National Aeronautics and Space Administration Subject: Financial Audit: The National Aeronautics and Space Administration's Fiscal Year 2004 Management Representation Letter on Its Financial Statements As you know, the Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and the Congress. We are required to audit these consolidated financial statements (CFS) and report on the results of our work.' In connection with fulfilling our requirement to audit the fiscal year 2004 CFS, we evaluated the Department of the Treasury's (Treasury) financial reporting procedures and related internal control over the process for compiling the CFS, including the management representation letter provided us by Treasury and OMB. Written representation letters from management, required by U.S. generally accepted government auditing standards, ordinarily confirm oral representations given to the auditor, indicate and document the continuing appropriateness of those representations, and reduce the possibility of a misunderstanding between management and the auditor. In our report, which is included in the fiscal year 2004 Financial Report of the United States Government,2 we reported a limitation on the scope of our work due to identified concerns with the adequacy of certain federal 1The Government Management Reform Act of 1994 has required such reporting, coveing the executive branch of government, beginning with financial statements prepared for fiscal year 1997. 31 U.S.C. § 331 (e). The federal government has elected to include certain financial information on the legislative and judicial branches in the CFS as well. 2The fiscal year 2004 Financial Report of the United States Government was completed by the Department of the Treasury on December 15, 2004, and is available through both GAO's Web site at w ,aogov and Treasury's Web site at ,vwfis trcasgov friiideyhtnl GAO-05-591R NASA's Management Representation Letter Page 1

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