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AFMD-93-26ML 1 (1992-11-19)

handle is hein.gao/gaobachqd0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 Accounting and Financial Management Division B-250948 11111 if November 19, 1992 148040 Major General Richard G. Larson, USA Commanding General Military Traffic Management Command Dear General Larson: We recently completed a comprehensive review of the U.S. Army's financial management operations and systems. The primary objectives of that review were to assess the Army's internal control systems and audit the fiscal year 1991 financial statements pursuant to the Chief Financial Officers Act of 1990 (Public Law 101-576). As part of the review, we engaged an independent certified public accounting firm, Arthur Andersen & Co., to perform the audit of the Military Traffic Management Command (MTMC). We conducted our review of the auditors' work in accordance with generally accepted government auditing standards. To determine the reasonableness of the auditors' work and the extent to which we could rely on it, we -- reviewed the auditors' approach and planning of the audit; -- evaluated the qualifications and independence of the audit staff; -- reviewed the auditors' reports to evaluate compliance with generally accepted accounting principles and generally accepted government auditing standards; and -- reviewed the auditors' working papers to determine (1) the nature, timing, and extent of audit work performed, (2) whether the auditors obtained an understanding of MTMC's internal control structure, (3) whether the auditors tested transactions for compliance with applicable laws and regulations, and (5) whether the evidence in the working papers supported the auditors' opinion on the internal control structure. GAO/AFMD-93-26ML

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