Internal Controls and Compliance With Laws and Regulations for the Defense Finance and Accounting Service Working Capital Fund Financial Statements for FY 1998

摘要

The Director, Defense Finance and Accounting Service (DFAS), who is the fund manager of the DFAS Working Capital Fund, is responsible for establishing and maintaining adequate internal controls and for complying with applicable laws and regulations. Our responsibility is to render an opinion on the financial statements and to determine whether internal controls were adequate and whether management complied with applicable laws and regulations. The DFAS Working Capital Fund provides funding for centralized finance and accounting services and systems support for all DoD Components. The overall objective of our audit was to determine whether the DFAS Working Capital Fund Financial Statements for FY 1998 were presented fairly and in accordance with Office and Management and Budget Bulletin No. 97-01, 'CCForm and Content of Agency Financial Statements', October 16, 1996, as amended on November 20, 1998. We determined whether internal controls were adequate to ensure that the DFAS Working Capital Fund financial statements were free of material error.