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GAO-04-212R 1 (2003-11-14)

handle is hein.gao/gaobaamiw0001 and id is 1 raw text is: I AmA Accountability * Integrity * Reliability United States General Accounting Office Washington, DC 20548 November 14, 2003 The Honorable Gordon S. Heddell Inspector General Department of Labor Subject: Applying Agreed-Upon Procedures: Federal Unemployment Taxes Dear Mr. Heddell: We have performed the procedures contained in the enclosure to this report, which we agreed to perform and with which you concurred, solely to assist your office in ascertaining whether the net federal unemployment tax (FUTA) revenue distributed to the Unemployment Trust Fund (UTF) for the fiscal year ended September 30, 2003, is supported by the underlying records. As agreed with your office, we evaluated fiscal year 2003 activity affecting distributions to the UTF. In performing the agreed-upon procedures, we conducted our work in accordance with generally accepted government auditing standards, which incorporate financial audit and attestation standards established by the American Institute of Certified Public Accountants. These standards also provide guidance when performing and reporting the results of agreed-upon procedures. The adequacy of the procedures to meet your objectives is your responsibility and we make no representation in that respect. The procedures we agreed to perform include (1) detailed tests of transactions that represent the underlying basis of amounts distributed to the UTF and (2) review of key reconciliations of the Internal Revenue Service (IRS) records to the Department of the Treasury records. The enclosure contains the agreed-upon procedures and our findings from performing each of the procedures. We were not engaged to perform, and did not perform, an audit, the objective of which would have been the expression of an opinion on the net amount of FUTA taxes distributed to the UTF. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. We completed the agreed-upon procedures on October 31, 2003. We provided a draft of this report to IRS officials, along with its enclosure, for review and comment. They agreed with the results and findings presented in this report. In response to our finding concerning an error on monthly FUTA refund data entered into the Government Online Accounting Link System (GOALS), IRS stated that it has GAO-04-212R Unemployment Trust Fund Procedures