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Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2009 and 2008

GAO-10-399 Published: Mar 01, 2010. Publicly Released: Mar 01, 2010.
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Highlights

In accordance with 36 U.S.C. 2103, GAO is responsible for conducting audits of the agencywide financial statements of the American Battle Monuments Commission (the Commission). GAO audited the financial statements of the Commission for the fiscal years ended September 30, 2009, and 2008. The audits were done to determine whether, in all material respects, (1) the Commission's financial statements were presented fairly and (2) Commission management maintained effective internal control over financial reporting. GAO also tested Commission management's compliance with selected laws and regulations. Created in 1923, the Commission operates and maintains 24 American military cemeteries on foreign soil; 25 federal memorials, monuments, and markers; and 7 nonfederal memorials. GAO is not making any recommendations in this report, but will be reporting separately on our recommendations for strengthening the Commission's controls. In commenting on a draft of this report, the Commission concurred with its facts and conclusions. Further, the Commission stated it would report the Antideficency Act violation and noted that the appointment of Commissioners to provide governance resides with the President of the United States.

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AccountingAccounting proceduresAgency evaluationAppropriated fundsAuditing proceduresBudget obligationsBudget outlaysFinancial analysisFinancial disclosureFinancial managementFinancial recordsFinancial statement auditsFinancial statementsFund auditsInternal controlsReporting requirementsReports managementRequirements definitionRisk assessmentStrategic planningComplianceFinancial reportingPolicies and proceduresProgram costs