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AIMD-99-66R 1 (1999-02-25)

handle is hein.gao/gaobacmvd0001 and id is 1 raw text is: United States General Accounting Office Wasbington, D.C. 20548 Accounting and Information Management Division B-281772 February 25, 1999 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 taxes (FUTA) collected by the Internal Revenue Service (IRS) for the fiscal year ended September 30, 1998, are supported by the underlying records. As agreed upon with your office, we evaluated fiscal year 1998 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 and (2) a review of key reconciliations of IRS to Department of the Treasury records. Enclosure II contains the agreed-upon procedures and our results and findings 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 IRS officials, along with its enclosures, for review and comment. They agreed with the contents of this letter and its enclosures. We completed the agreed-upon procedures on February 12, 1999. 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 AICPA- These standards also provide guidance when performing and reporting the results of agreed-upon procedures. 6 /'7 GAOIAIMD-99-66R FUTA Procedures