Office of Inspector General Audit Report: Supplementary Report on Internal Control Systems and Compliance Related to Federal Railways Administration's ... Fiscal Year 1995: Project Id: Ad-Fr-7-005

The internal control and compliance objectives for our audit covering the four funds and activities subject to the Chief Financial Officers (CFO) Act were to determine whether Federal Railroad Administration (FRA) (i) had in place an adequate internal accounting and administrative control structure that provided reasonable assurance of achieving established internal control objectives, and (ii) complied with laws and regulations which (a) could have a direct and material effect on the financial statement or (b) were specified by Office of Management and Budget (OMB) and FRA.