Financial Audit

Expenditures by Four Independent Counsels for the Six Months Ended March 31, 1994 Gao ID: AIMD-95-112 March 31, 1995

This report presents the results of GAO's audits of expenditures reported by four independent counsels for the six months ended March 31, 1994. GAO found that the statements of expenditures for independent counsels Arlin M. Adams, Joseph E. diGenova, Robert B. Fiske, Jr., and Lawrence E. Walsh were reliable in all material respects. GAO did discover a material weakness in internal controls over reporting of expenditures, although there was no material noncompliance with laws and regulations.

GAO found that: (1) there was a material weakness in internal controls over the reporting of expenditures; (2) one independent counsel maintained its own accounting system, while one counsel relied on the Department of Justice and the other two relied on Administrative Office of the U.S. Courts (AOUSC) reports in reporting expenditures; (3) the independent counsels took steps to improve internal controls through greater segregation of duties, increased interaction between independent counsel and AOUSC employees, and ongoing development of written guidance; and (4) there were no material instances of noncompliance for the periods ended March 31, 1994.

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