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AIMD-98-79R 1 (1998-02-26)

handle is hein.gao/gaobaclzj0001 and id is 1 raw text is: United States GŁAO General Accounting Office Washington, D.C. 20548 Accounting and Information Management Division B-278609 February 26, 1998 The Honorable Charles C. Masten Inspector General Department of Labor Subject: Agreed-Upon Procedures: Federal Unemployment Taxes Dear Mr. Masten: We have performed the procedures contained in enclosure II to this letter, which we agreed to perform solely to assist your office in ascertaining whether the net federal unemployment tax (FUTA) collected by the Internal Revenue Service (IRS) for the fiscal year ended September 30, 1997, are supported by the underlying records. As agreed upon with your office, we evaluated fiscal year 1997 FUTA net collection activity. See enclosure I to this letter for a schedule of these amounts (unaudited). This engagement to apply agreed-upon procedures was performed in accordance with standards established by the American Institute of Certified Public Accountants (AICPA). Accordingly, the adequacy of the procedures to meet your objectives is your responsibility and we make no representations in that respect. The procedures we agreed to perform included (1) detailed tests of a sample of FUTA collection and refund transactions to check the validity of the transactions and their accurate accounting and reporting and (2) a review of key reconciliations of IRS to Department of the Treasury records. Enclosure II contains the agreed-upon procedures and our findings resulting from performing each of the procedures. We were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the accompanying schedule of FUTA net collections reflected in enclosure I. 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 provided a draft of this letter to the IRS, along with its enclosures, for review and comment. IRS' Deputy Commissioner agreed with the contents of this letter and its enclosures. GAO/AIMD-98-79R FUTA Procedures