Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 1997
and 1996 (Letter Report, 06/23/98, GAO/AIMD-98-193).

Pursuant to a congressional request, GAO reviewed the financial
statements of the Senate Restaurants Revolving Fund for the period ended
September 30, 1997 and September 28, 1996. GAO contracted with the
independent public accounting firm of KPMG Peat Marwick LLP (KPMG) to
conduct the audit.

GAO noted that: (1) in its audit of the U.S. Senate Restaurants
Revolving Fund, KPMG found that: (a) the financial statements were
reliable in all material respects; (b) management fairly stated its
assertion that internal controls in place on September 30, 1997, were
effective in safeguarding assets against unauthorized acquisition, use,
or disposition, assuring material compliance with laws and regulations,
and assuring that there have been no material misstatements in the
financial statements; and (c) there was no reportable noncompliance with
laws and regulations it tested; and (2) however, KPMG's work identified
the need to improve internal controls related to logical access.

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

 REPORTNUM:  AIMD-98-193
     TITLE:  Financial Audit: Senate Restaurants Revolving Fund for 
             Fiscal Years 1997 and 1996
      DATE:  06/23/98
   SUBJECT:  Financial statement audits
             Legislative bodies
             Auditing standards
             Accounting procedures
             Internal controls
             Federal agency accounting systems
             Computer security
             Revolving funds
IDENTIFIER:  Senate Restaurant Revolving Fund
             
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Cover
================================================================ COVER


Report to the Chairman, Committee on Rules and Administration, U.S. 
Senate, and the Architect of the Capitol

June 1998

FINANCIAL AUDIT - SENATE
RESTAURANTS REVOLVING FUND FOR
FISCAL YEARS 1997 AND 1996

GAO/AIMD-98-193


(917559)


Abbreviations
=============================================================== ABBREV

  KPMG - x

Letter
=============================================================== LETTER