Audit Activities 



The Insticution's financial statements are audited annually by 

 KPMG Peat Marwick, an independent public accounting 

 firm. The audit plan includes an in-depth review of the 

 Institution's internal control structure. KPMG Peat 

 Marwick's Independent Auditors' Report for fiscal year 1996 

 and the accompanying financial statements are presented on 

 the following pages. The Smithsonian's internal audit staff, 

 part of the Office of Inspector General, assists the external 



auditors and regularly audits the Institution's various 

 programs, activities, and internal control systems. The Audit 

 and Review Committee of the Board of Regents provides an 

 additional level of financial oversight and review. 



In accordance with the government requirement for the 

 use of coordinated audit teams, the Defense Contract Audit 

 Agency, the Smithsonian Office of Inspector General, and 

 KPMG Peat Marwick coordinate the audit of grants and 

 contracts received from federal agencies. 

 NOTE. Data tables are printed in Smithsonian Year ippti 



$15 



