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Financial Audit: Panama Canal Commission's 1993 and 1992 Financial Statements

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Report Type Reports and Testimonies
Report Date March 31, 1994
Report No. AIMD-94-89
Subject
Summary:

This report presents the results of GAO's audits of the Panama Canal Commission financial statements for 1993 and 1992. The Commission, a federal agency, is responsible for running the Panama Canal until it is turned over to the Panamanian government in 1999. In GAO's opinion, the Commission's financial statements present fairly, in all material respects, its financial position for fiscal years 1993 and 1992 and the results of its operations, changes in capital, and cash flows for those years. In addition, internal controls reasonably ensured that losses, noncompliance, or misstatements material to the financial statements would be prevented or detected. GAO found no material instances of noncompliance with laws or regulations.

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