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B-154506 1 (1974-06-20)

handle is hein.gao/gaobaafpa0001 and id is 1 raw text is: a UNITED STATES GENERAL ACCOUNTING id WASHINGTON, D.C. 20548 INTERNATIONAL DIVISION B-1 54506 JUN 2 0 1974 The Honorable I11 The Secretary of the Treasury L1o09823 Dear Mr. Secretary: We have made an audit qitte lad -is~tra-tty-eLexpenses of-the E l age-oS-tabi-lization-Eun&d(ESF) for fiscal year 1972, pursuant to Public Law 91-599, dated December 30, 1970. Our audit con- sidered the work of the Treasury Audit Committee, appointed annually by the Secretary of the Treasury to audit all the accounts of ESF, and the Department's Office of Audit which had reviewed the ESF accounting system as part of its internal audit program. The enclosure includes statements on ESF operational and administrative accounts as reported by the Treasury Audit Committee and identifies ESF accounts subject to GAO audit. The accounts subject to GAO review include the salaries and related benefits for personnel carrying out stabilization operations and related inter- national economic activities of the Office of the Assistant Secretary for International Affairs of the Treasury, as well as legal and administrative support services. GAO had access to documentation for all transactions other than those nonadministrative operations arising from the sale or purchase of foreign exchange, Special Drawing Rights, gold, and investments in U.S. and foreign securities. Although we relied on Treasury's internal auditing, we also analyzed the administrative expense accounts for unusual items and reviewed selected transactions by checking the basic documentation. Our tests did not disclose any major weaknesses in Treasury's handling of administrative expenses. The following matters were discussed with Treasury officials. 1. Payments for official travel; for example, the need for more thorough audit of vouchers before payment and for supportive documentation to be attached to the vouchers. 7'JO~64d%

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