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092420 1 (1972-03-02)

handle is hein.gao/gaobacwib0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON REGIONAL OFFICE FIFTH FLOOR 803 WEST BROAD STREET FALLS CHURCH, VIRGINIA 22046 MAR 2 1972 Dear Mr. Wright: We have examined the accounts of accountable officers of the National Labor Relations Board through June 30, 1971, and the payroll and leave records through the leave year ended January 9, 1971. We evaluated procedures and internal controls relative to the receipt and disbursement of funds, including payroll and leave, and tested financial transactions and records as we considered appropriate. We found the procedures and internal controls generally effective and selected transactions normally processed in a satisfactory manner. Certain needed improvements in the Board's procedures and practices were identified, however, and discussed with you and your representa- tive during our examination. These matters are summarized briefly below, along with the corrective action taken or planned by the Board, for your use and information. Improved controls over property accounting to be established To effectively control property and equipment, a physical inven- tory should be taken at regular intervals and the results of such inventory should be used to make appropriate adjustments to the accounting records. A physical count of property and equipment had been taken by the Board in June 1969 at your headquarters and field office locations. However, the benefits of the physical count were not realized by the Board since the value of the property and equip- ment counted was never compiled and no comparison and reconciliation was ever made to the accounting records. In discussing this matter with you and your representative, we were informed of the Board's plan to improve its property accounting by computerizing property and equipment records and using such capability in inventory reconciliations. In our view, the development of this capability will improve controls over property and equipment and afford the Board the opportunity to investigate any differences between physical inventories and the accounting records on a timely basis.

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