Advisory: Adequacy of Procedures Used to Transfer Life Insurance Policy Data From VAROIC St. Paul, MN to VAROIC Philadelphia, PA

As part of the audit of VA's Consolidated Financial Statements for FY 1996, we reviewed internal controls in VA's Life Insurance Programs to determine the reliability of financial information and compliance with applicable laws and regulations. Based on our substantive audit tests and examination of selected accounting records, we concluded that management performed adequate adjustments to general ledger insurance accounts to resolve errors in certain fields which occurred during the first in a series of data transfers.