Financial Audit

Expenditures by Three Independent Counsels for the Six Months Ended September 30, 1993 Gao ID: AIMD-95-85 March 31, 1995

This report presents the results of GAO's audits of expenditures reported by three independent counsels for the six months ended September 30, 1993. GAO found that the statements of expenditures for independent counsels Arlin M. Adams, Joseph E. diGenova, 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) two independent counsels had material weaknesses in internal controls over reported expenditures; (2) the independent counsels fulfilled their financial reporting requirements by using summarized expenditure reports; (3) one independent counsel maintained its own separate accounting system, while the other two counsels relied on Administrative Office of the U.S. Courts (AOUSC) reports in reporting expenditures; (4) the independent counsels took corrective action to improve internal controls through greater segregation of duties, increased interaction between independent counsel and AOUSC employees, and ongoing development of written guidance; and (5) there were no other material instances of noncompliance for the periods ended September 30, 1993.

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