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State of Delaware 403(b) Plan Financial Statements – Calendar Year 2016

Report Details

Submitting OIG: 
State of Delaware Auditor of Accounts
Report Description: 
Why This Audit? In accordance with 29. Del. C. §2906 and §6058, the Auditor of Accounts (AOA) is releasing a financial statement audit of the State of Delaware 403(b) Plan for calendar year 2016. This report has a disclaimed opinion. 1 Why is the audit opinion disclaimed? The Department of Labor permits the exclusion of vendors which were previously approved but discontinued prior to 2009. Since the financial statements permissibly exclude significant dollars for more than one hundred discontinued vendors, the auditors cannot opine that the financial statements are complete and accurate in all material respects. Hence, a disclaimed opinion is what the audit standards require for 403(b) plans with significant excluded contracts. Disclaimed audit opinions are standard in these cases.
Date Issued: 
Thursday, January 16, 2020
Agency Reviewed / Investigated: 
State of Delaware
Location: 
DE
United States
Type of Report: 
Advisory Reports
Professional Standard: 
Other
Report File Link: 
https://auditor.delaware.gov/wp-content/uploads/sites/40/2020/01/2016-State-of-D…

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