Financial Audit: Veterans Administration's Financial Statements for Fiscal Years 1988 and 1987 : Report to the CongressU.S. General Accounting Office, 1989 - 54 páginas |
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accepted accounting principles Accounts Payable Accounts Receivable accrual Accrued American Housing Trust amount Anti-Deficiency Act capitalized cash compensation and pension consolidated financial statements consolidated statement control accounts costs credit assistance programs default Depreciation direct loan fund Dividends dollars in thousands ENDED SEPTEMBER 30 EQUITY estimated financial position fiscal year 1988 FISCAL YEAR ENDED Foreclosed Property Held foreclosures Future Financing Sources future liability G.I. Bill GNMA guaranteed loans Held for Sale Housing Credit Assistance housing credit program IMPREST FUNDS insurance program internal accounting controls investments loan guaranty fund loan sales loans receivable losses on guaranteed Medical million non-recourse NOTE 11 NSLI Operating Expenses Operating Revenue Participating Policyholders pension benefits percent policies Premium principal Proposed Legislation reconciliation to budget recourse Reimbursements SDVI SGLI statement of financial subordinate certificates transfers TREASURY AND IMPREST TRUST FUND BALANCES U.S. Government U.S. Treasury U.S. Treasury Department USGLI VA's financial VETERANS ADMINISTRATION Veterans Affairs VSLI
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Página 13 - Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the system to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate.
Página 7 - In our opinion, the financial statements referred to above present fairly the financial position of the various funds of Delaware River Port Authority at December 31, 1987 and the results of its operations and the changes in its financial position for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.
Página 12 - The objectives of a system are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's...
Página 12 - In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of a system of internal accounting controls are to provide management with reasonable assurance that (1) obligations and costs are in compliance with applicable laws, (2) funds, property, and other assets are safeguarded against waste, loss, and unauthorized use or misappropriation, and (3) assets, liabilities, revenues, and...
Página 24 - ... Each Federal agency shall obtain the approval of the Comptroller General for the disposal of program records less than 3 years old and for certain classes of records relating to claims and demands by or against the Government, and to accounts in which the Government is concerned in accordance with the GAO "Policy and Procedures Manual for Guidance of Federal Agencies," title 8 — Records Management (44 USC 3309).
Página 26 - To the extent that current or prior year appropriations are not available to fund annual leave earned but not taken, funding will be obtained from...
Página 12 - As part of our examination, we made a study and evaluation of the company's system of internal accounting control to the extent we considered necessary to evaluate the system as required by generally accepted auditing standards...
Página 13 - Revenues and expenditures applicable to agency operations are properly recorded and accounted for to permit the preparation of accounts and reliable financial and statistical reports and to maintain accountability over the assets.
Página 14 - Also, projection of any evaluation of the system to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate. Our study and evaluation made for the limited purpose described in the first paragraph would not necessarily disclose all material weaknesses in the system. Accordingly, we do not express an opinion on the system of internal accounting control of the Association taken as...
Página 7 - ... in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the financial position...