Fiscal Year 1997 District of Columbia Audit Report and CFO Oversight: Hearing Before the Subcommittee on the District of Columbia of the Committee on Government Reform and Oversight, House of Representatives, One Hundred Fifth Congress, Second Session, February 11, 1998U.S. Government Printing Office, 1998 - 110 pages |
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accumulated deficit agencies Auditing Standards Authority balanced budget basis believe Brimmer budgetary cash CFO's Chairman Cropp Chief Financial Officer city's Columbia Financial Responsibility committee Comprehensive Annual Financial CONG CONGRE CONGRESS THE LIBRARY Congresswoman continue contract Control Board Control Over Financial Council deficit borrowing DESEVE District government District of Columbia District's financial economic efforts ELEANOR HOLMES NORTON ESS THE LIBRARY expenditures FARRELL financial audit financial management system fiscal year 1997 fund going GRESS Home Rule HORN implementation improvements internal control issues KPMG KPMG Peat Marwick LIBRARY OF CONGRESS look management reform material weaknesses Mayor BARRY Medicaid ment million MORELLA NORTON oversight percent position problem programs purpose financial statements question RARY reduction Responsibility and Management RESS revenue Revitalization Act September 30 service delivery short-term spending staff Strategic Plan subcommittee surplus Thank Tony Williams transaction understand unqualified opinion Williams
Popular passages
Page 34 - ... are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred...
Page 28 - ... in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Page 34 - Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.
Page 35 - Schedules 1 through 4 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements, prepared on the basis of accounting described in note 1, taken as a whole.
Page 32 - A material weakness is a condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of...
Page 34 - America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Page 62 - Chairman of the District of Columbia Financial Responsibility and Management Assistance Authority (Authority).
Page 35 - ... in all material respects in relation to the general purpose financial statements taken as a whole.
Page 7 - Thank you very much. [The prepared statement of Hon. Eleanor Holmes Norton follows:] ELEANOR HOLMES NORTON COMMITTEE ON GOVERNMENT REFORM •.?.S5a• COMMITTEE ON TRANSPORTATION AND INFHA STRUCTURE SUBCOMMITTEES .^ «OU8K« of tip Unttri fttatu 5Sr *«"« «rf »*P««ntattiitB RlaHtnnrrton.