Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 2000 and 1999
GAO-01-494
Published: Mar 23, 2001. Publicly Released: Mar 23, 2001.
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Highlights
GAO contracted with KPMG Peat Marwick LLP to audit the financial statements of the Senate Restaurants Revolving Fund for fiscal years 2000 and 1999. KPMG found that the statements were fairly presented in conformity with U.S. generally accepted accounting principles. Management fairly stated that internal controls safely guarded assets against loss from unauthorized acquisition, use, or disposition; ensured material compliance with laws and regulations; and ensured that there were no material misstatements in the financial statements. KPMG found no reportable noncompliance with selected provisions of the laws and regulations it tested.
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Accounting proceduresAuditing standardsDining facilitiesFinancial statement auditsFund auditsInternal controlsRevolving fundsFinancial statementsLaws and regulationsFinancial management