Financial Audit

Bureau of the Public Debt's Fiscal Years 1998 and 1997 Schedules of Federal Debt Gao ID: AIMD-99-70 March 1, 1999

This report presents the results of GAO's audits of the schedules of federal debt managed by the Bureau of the Public Debt for fiscal years 1998 and 1997. GAO found that (1) the schedules of federal debt were reliable in all material respects; (2) management fairly stated that the related internal control was effective in ensuring that there were no material misstatements in the schedule of federal debt for fiscal year 1998, including safeguarding assets from material loss, and ensuring material compliance with laws governing the use of budget authority and with other laws and regulations relevant to the federal debt managed by the Bureau; and (3) there was no reportable noncompliance in fiscal year 1998 with a selected provision of a law and regulation GAO tested.

GAO noted that: (1) the Schedules of Federal Debt were reliable in all material respects; (2) management fairly stated that the related internal control in place on September 30, 1998, was effective in assuring that there were no material misstatements in the Schedule of Federal Debt for the fiscal year ended September 30, 1998, including safeguarding assets from material loss, and assuring material compliance with laws governing the use of budget authority and with other laws and regulations relevant to the Federal Debt managed by the Bureau of the Public Debt; and (3) no reportable noncompliance in fiscal year 1998 with a selected provision of a law and regulation GAO tested.



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