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AFMD-92-112ML 1 (1992-08-20)

handle is hein.gao/gaobachph0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 Accounting and Financial Management Division B- 24 8717 August 20, 1992 147414 Colonel Philip R. Harris, USA Commander U.S. Army Engineer Division, New England 424 Trapelo Road Waltham, MA 02254-9194 Dear Colonel Harris: We recently completed an audit of the Department of the Army's fiscal year 1991 consolidated financial statements pursuant to the Chief Financial Officers Act of 1990 (Public Law 101-576). One purpose of these statements and our audit is to provide agency managers and the Congress with complete and reliable information to use in financing, managing, and evaluating Army programs. In order to do this effectively, the accounting records throughout the Army need to be as accurate as possible. During our audit, we identified adjustments necessary to correct the accounting records at 23 Army locations. We presented adjustments to correct the Army's consolidated financial statements in a May 19, 1992, management letter (GAO/AFMD-92-68ML) to the Assistant Secretary of the Army for Financial Management and the Director, Defense Finance and Accounting Service. However, many of these adjustments were projections based upon statistical samples performed as part of our audit and were made only to the consolidated financial statements, not to the underlying records. Enclosure I shows an adjustment for about $134.4 million made to the financial statements that also needs to be recorded to correct the accounting records at the Boston District. We have discussed this adjustment with your staff and provided them with supporting documentation. They may have already recorded the adjustment. However, the adjustment should be made by the end of fiscal year 1992. If you have any questions or require our assistance in resolving this matter, please contact Terry Carnahan, Acting Associate Director, on (202) 275-7095. Please provide us your comments on this matter and a description of the action taken within 30 days of the date GAO/AFMD-92-112ML 0D35'J