Financial Audit: Pension Benefit Guaranty Corporation's 1993 and 1992
Financial Statements (Letter Report, 05/04/94, GAO/AIMD-94-109).

This report presents GAO's opinion on the financial statements of the
Single-Employer Fund and the Multiemployer Fund for fiscal years 1993
and 1992. These financial statements are the responsibility of the
Pension Benefit Guaranty Corporation, which runs the funds.  Because of
the Corporation's continuing progress in improving internal controls,
GAO was able, for the first time, to evaluate each of the Corporation's
financial statements for fiscal year 1993.  Although material internal
control weaknesses continue to affect both funds, the Corporation is
working to resolve this problem.  This report also includes GAO's
recommendation to improve the Corporation's internal control structure
and discusses GAO's continuing concerns about the long-term viability of
the Single-Employer Fund and weaknesses in employee benefit plan audits
and reports.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  AIMD-94-109
     TITLE:  Financial Audit: Pension Benefit Guaranty Corporation's 
             1993 and 1992 Financial Statements
      DATE:  05/04/94
   SUBJECT:  Financial records
             Internal controls
             Federal agency accounting systems
             Retirement pensions
             Financial statement audits
             Federal corporations
             Reporting requirements
             Financial management systems
             Liability (legal)
             Funds management
IDENTIFIER:  Single Employer Guaranty Fund
             PBGC Multiemployer Fund
             Retirement Protection Act of 1993
             PBGC Pension and Lump Sum System
             
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