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Report File
Date Issued
Submitting OIG
Consumer Product Safety Commission OIG
Agencies Reviewed/Investigated
Consumer Product Safety Commission
Report Number
26-A-01
Report Description

The U.S. Consumer Product Safety Commission (CPSC) OIG retained KPMG, LLP (KPMG), an independent public accounting firm, to perform the independent audit of the CPSC’s financial statements for fiscal year (FY) 2025 in accordance with auditing standards generally accepted in the United States.  This report is contained in the CPSC’s Annual Financial Report which also contains the complete set of financial statements, management’s discussion and analysis, and required supplementary and other information.  KPMG found that the CPSC received a qualified or clean opinion.  However, the agency was found to have two material weaknesses, first identified in FY 2023; and one significant deficiency.

Report Type
Audit
Agency Wide
Yes
Number of Recommendations
5
Questioned Costs
$0
Funds for Better Use
$2,400,000
Report updated under NDAA 5274
No

Open Recommendations

This report has 5 open recommendations.
Recommendation Number Significant Recommendation Recommended Questioned Costs Recommended Funds for Better Use Additional Details
10 No $0 $0

Update policies, and procedures related to monitoring and oversight of internal controls related to journal entries, to ensure internal consistency with, and clear definition of, those journal entries that are processed by the service provider; and to define the required documentation to be maintained to evidence CPSC reviews of journal entries.

12 No $0 $0

ML - 1: Design and implement a control to identify, analyze, and respond to risks related to the validity of open obligations.

13 No $0 $0

ML - 2: Establish procedures and recurring communication with the appropriate stakeholders to assist in the identification and de-obligation of stale undelivered orders.

14 No $0 $0

ML - 3: Design a control to identify, analyze, and respond to risks related to the reporting of leases.

15 No $0 $0

ML - 4: Establish recurring communication with the appropriate stakeholders.

Consumer Product Safety Commission OIG

United States