Skip to main content

Financial Audit: Congressional Award Foundation's Fiscal Years 2014 and 2013 Financial Statements

GAO-15-552 Published: May 15, 2015. Publicly Released: May 15, 2015.
Jump To:
Skip to Highlights

Highlights

What GAO Found

In GAO’s audits of the Congressional Award Foundation’s (Foundation) financial statements for fiscal years 2014 and 2013, it found that the Foundation’s financial statements are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles. GAO also identified no material weaknesses in internal control over financial reporting based on the limited procedures it performed, and no reportable noncompliance with laws, regulations, contracts, and grant agreements it tested. In commenting on a draft of this report, the Foundation stated that it has continued its efforts to improve operations and internal control over financial reporting. The Foundation also stated that GAO’s audit findings report the positive results of the Foundation’s ongoing efforts.

Why GAO Did This Study

In accordance with section 107 (2 U.S.C. § 807) of the Congressional Award Act, as amended, GAO is responsible for conducting audits of the Foundation’s financial statements.

For more information, contact J. Lawrence Malenich at (202) 512-3406 or malenichj@gao.gov

Full Report

GAO Contacts

Office of Public Affairs

Topics

Accounting standardsAudit reportsAuditing proceduresAuditing standardsFinancial disclosureFinancial recordsFinancial statement auditsFoundations (organizations)Internal controlsReporting requirementsVoluntary complianceFinancial reporting