Audit of U.S. Department of State 2002 and 2001 Principal Financial Statements (AUD/FM-03-18)
The Government Management Reform Act requires that the Department?s Principal Financial Statements be audited. The objectives of the audit are to report on whether the financial statements fairly present the Department?s financial position and results of financial operations, in accordance with generally accepted accounting principles; to determine whether the Department had an internal control structure that provided reasonable assurance of achieving internal control objectives; and to determine whether the Department complied with applicable laws and regulations.
An independent external auditor issued an unqualified opinion on the Department?s 2002 and 2001 Principal Financial Statements. Although an unqualified opinion was issued, the report brings to management?s attention concerns about security over the unclassified network and the Paris Financial Service Center?s Accounting and Disbursing System; the inadequacy of internal controls over the management of undelivered orders and the collection and reporting of managerial cost accounting information; and the inadequacy of the Department?s financial and accounting system, which is both an internal control weakness and an issue of noncompliance with several laws and regulations.
The Office of Electronic Information, Bureau of Public Affairs, manages this site as a portal for information from the U.S. State Department. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein.