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093520 1 (1974-05-06)

handle is hein.gao/gaobacxez0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON REGIONAL OFFICE 1CQr FIFTH FLOOR 803 WEST BROAD STREET FALLS CHURCH, VIRGINIA 22046 Mr. M. T. Allen, President MAY 6 1974 Government Services, Inc. 1135 21st Street, NW. Washington, D.C. 20036 Dear Mr. Allen In the course of our recently completed audit of the Corporation, we saw at first hand the progress that has been made in improving your finan- cial operations and the constructive followthrough on our suggestions of last year. The results of the improved cash management and accounts pay- able practices are indicative of the benefits which were derived through your management improvement actions. We thought it would be useful to summarize for you observations developed during the calendar year 1973 audit and not included in our report to the Board of Trustees. These matters, which are presented in some detail in the enclosed financial management summary, have been dis- cussed with members of your staff and their comments have been considered in our presentation. The summary also highlights many of the actions taken in response to our April 1973 letter At December 31, 1973, the issues presented did not have a material effect upon the fairness of your financial presentation. However, we did find it necessary to expand our tests of unit inventories and fixed assets because these items were not independently verified. The expanding of auditing techniques is not desirable and results in additional costs to the Corporation Therefore, we have offered suggestions in the summary to pre- clude this for subsequent audits. We appreciate the courtesies and cooperation afforded us by you and your staff. We will be happy to discuss the management summary with you or furnish additional information that might assist in your consideration ol our observations Sincerely yours, H. L. Krieger Regional Manager Enclosures [0?3 So

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