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AFMD-92-104ML 1 (1992-08-20)

handle is hein.gao/gaobachpw0001 and id is 1 raw text is: United States GA General Accounting Office Washington, D.C. 20548 Accounting and Financial Management Division B-248717 August 20, 1992 Major General Joe W. Rigby, USA Commander U.S., AMSMI-CG 147433 Army Missile Command Redstone Arsenal, AL 35898-5000 Dear General Rigby: 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 at 23 Army locations, 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 about $1.4 billion of adjustments made to the financial statements that also need to be recorded to correct the accounting records at the Missile Command. We have discussed most of these adjustments with your staff and provided them with supporting documentation. They may have already recorded some of the adjustments. However, all of the adjustments should be made by the end of fiscal year 1992. If you have any questions or require our assistance in resolving these matters, please contact Terry Carnahan, Acting Associate Director, on (202) 275-7095. Please provide us your comments on these matters and a description of the actions taken within 30 days of the date of this letter. We are sending copies of this letter to the GAO/AFMD-92-104ML