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Financial Audit: Examination of Customs' Fiscal Year 1992 Financial Statements

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Report Type Reports and Testimonies
Report Date June 30, 1993
Report No. AIMD-93-3
Subject
Summary:

This report presents GAO's audit of the principal financial statements of the U.S. Customs Service for fiscal year 1992. GAO was unable to express an opinion on their reliability because of the lack of reliable financial information, inadequate financial systems and processes, and Customs' ineffective internal control structure. In addition, GAO found that Customs' internal controls did not effectively safeguard assets, provide a reasonable basis for determining material compliance with laws and regulations, or ensure that no material misstatements appeared in the principal financial statements. GAO was unable to test all significant controls due to limited supporting information.

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