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B-55712 1 (1978-01-03)

handle is hein.gao/gaobabmlk0001 and id is 1 raw text is: DOCUMENT RESUME 04571 - LB0064981] (Audit Report of National Music Council]. B-55712. January 3. 1978. 1 pp. Report to Rep. Peter K. Rodino, Jr., Chairman, House Committee on the Judiciary; by Robert F. Keller, Deputy Comptroller General. Issue Area: Accounting and Financial Reporting (2800). Contact: Financial and General Hanagement Studies Div. Budget Function: Miscellaneous: Financlal Management and Information Systaes (1002). Organization Concerned: National Music Council. Congressional Relevance: House Committee on the Judiciary. Authority: (P.L. 88-504; 36 U.S.C. 1101). 36 U.S.C. 661. A review was performed of the audit repcrt of the National Music Council for the year ended April 30, 1977, to detervine uhether the report complied with financial reporting requirements for federally chartere4 corporations. Findings/Conclusions: The audit report was prepared by a firm of certified public accountants, and included a statement of the scope of audit and the auditor's opinion that the financial statements presented fairly the financial position of the National Music Counc.l at April 30, 1977, and the results of operaticns and changes in finanCial position for the year then ended, in comforaity with generally accepted accounting principles applied on a consistent basis. The report was due October 31, 1977, but was received by the GAO office in November 1977. Vith the exception of the late receipt, the ardit aad financial reporting requirements of legislation veswe met. (Author/HT )