United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1993-10-13 monographic deposited born digital GA 1.13:RCED-94-17 https://www.govinfo.gov/app/details/GAOREPORTS-RCED-94-17 P0b002ee18039e111 f:rc94017 DGPO 2010-08-12 2011-03-24 GAOREPORTS-RCED-94-17 machine generated eng fdlp REPORT GAOREPORTS-RCED-94-17 RCED-94-17 Advance funding Defense industry Electronic equipment industry Audits Financial records Internal controls Compliance Accounting procedures Non-government enterprises Administrative costs Letter Report RCED In reviewing the audit of SEMATECH's 1992 financial statements, GAO found no indication the Price Waterhouse's report on the internal control structure or its report on compliance with laws and regulations cannot be relied on. SEMATECH is a U.S. semiconductor manufacturer-Defense Department (DOD) consortium that seeks to advance semiconductor manufacturing technology. In January 1993, DOD began providing advance payments to SEMATECH on a monthly instead of a quarterly basis. This procedure, adopted in response to an earlier GAO recommendation, appears to provide enough working capital funds while minimizing the amount of unexpended government funds that SEMATECH holds. https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-94-17/html/GAOREPORTS-RCED-94-17.htm GAO/RCED-94-17 https://www.govinfo.gov/app/details/GAOREPORTS-RCED-94-17 Letter Report GAO/RCED-94-17; Federal Research: Assessment of the Financial Audit for SEMATECH's Activities in 1992; Advance funding Defense industry Electronic equipment industry Audits Financial records Internal controls Compliance Accounting procedures Non-government enterprises Administrative costs