Federal Managers' Accountability Act of 1981: Hearing Before a Subcommittee of the Committee on Government Operations, House of Representatives, Ninety-seventh Congress, First Session, on H.R. 1526 ... March 11, 1981 |
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ABBADESSA accepted accounting principles Accountability Act accounting and administrative accounting control provided accounting control system accounting system achieved adequacy administrative controls AICPA Committee annual report appropriate approved Arthur Andersen audit committee audited statements bill broad objectives budget BUTLER Certified Public Accountants Chairman Cohen Commission companies company's compliance Comptroller Congress control environment control procedures Corrupt Practices Act December 15 disclosure discussed documentation draft circular effective Ernst & Whinney examination executive agency FCPA financial management financial reporting financial statements Foreign Corrupt Practices Government HORTON independent accountants independent auditors independent public accountant Inspector internal accounting control internal audit function internal auditors internal control systems issuers legislation LORDAN management on internal ment monitoring objectives of internal opinion organization proposed Item proposed rules provide reasonable assurance recommendations registrants reporting on internal responsibility Section Securities Exchange Act Special Advisory Committee statement of management system of internal tion transactions
Popular passages
Page 127 - ... (A) make and keep books, records, and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the issuer; and (B) devise and maintain a system of internal accounting controls sufficient to provide reasonable assurances...
Page 9 - BEFORE THE SUBCOMMITTEE ON LEGISLATION AND NATIONAL SECURITY COMMITTEE ON GOVERNMENT OPERATIONS HOUSE OF REPRESENTATIVES CONCERNING OUR REPORT ON THE PROBLEMS INVOLVED WITH GRANT AUDITING Mr.
Page 34 - There are inherent limitations that should be recognized in considering the potential effectiveness of any system of internal accounting control.
Page 127 - ... section 12 of this title, or any equity security of an insurance company which would have been required to be so registered except for the exemption contained in section...
Page 140 - ... (i) transactions are executed in accordance with management's general or specific authorization; (ii) transactions are recorded as necessary (I) to permit preparation of financial statements in conformity with generally accepted accounting principles or any other criteria applicable to such statements, and...
Page 106 - I would be pleased to respond to. any questions that you or the other Members of the Committee may have.
Page 48 - The objectives of a system are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles.
Page 152 - ... (iii) access to assets is permitted only in accordance with management's general or specific authorization; and "(iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
Page 127 - Commission determines that the public interest or the protection of investors so requires). (2) Every issuer which has a class of securities registered pursuant to section 12 of this title and every issuer which is required to file reports pursuant to section 15(d) of this title shall — (A) make and keep books, records, and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the issuer; and...
Page 141 - FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934...