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Financial Audit: Congressional Award Foundation's 1998 and 1997 Financial Statements

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Report Type Reports and Testimonies
Report Date May 14, 1999
Report No. AIMD-99-173
Subject
Summary:

The Congressional Award Foundation was formed in 1979 to promote excellence among youth in public service, personal development, and physical fitness. GAO audited the Foundation's 1998 and 1997 financial statements and found that they were reliable in all material respects. Foundation management fairly stated that internal controls effectively safeguarded assets from material loss, ensured material compliance with relevant laws and regulations, and ensured that there were no material misstatements in the financial statements. GAO found no reportable noncompliance with laws and regulations it tested for fiscal year 1998.

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