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Report File
Date Issued
Submitting OIG
Department of Housing and Urban Development OIG
Agencies Reviewed/Investigated
Department of Housing and Urban Development
Components
Ginnie Mae
Report Number
2025-FO-0001
Report Description

We contracted with the independent public accounting firm Sikich CPA LLC to audit the financial statements of Ginnie Mae as of and for the years ending September 30, 2024 and 2023, and to provide reports on Ginnie Mae’s (1) internal control over financial reporting and (2) compliance with laws, regulations, contracts, and grant agreements and other matters.  Our contract with Sikich required that the audit be performed in accordance with U.S. generally accepted auditing standards, Office of Management and Budget audit requirements, and the Financial Audit Manual of the U.S. Government Accountability Office and the Council of the Inspectors General on Integrity and Efficiency.

In its audit of Ginnie Mae, Sikich reported

That Ginnie Mae’s financial statements as of and for the fiscal year ending September 30, 2024, were presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles.

No material weaknesses or significant deficiencies for fiscal year 2024 in internal control over financial reporting, based on limited procedures performed.

No reportable noncompliance for fiscal year 2024 with provisions of applicable laws, regulations, contracts, and grant agreements or other matters.

In connection with the contract, we reviewed Sikich’s reports and related documentation and questioned its representatives.  Our review, as differentiated from an audit of the financial statements in accordance with U.S. generally accepted government auditing standards, was not intended to enable us to express and we do not express opinions on Ginnie Mae’s financial statements or conclusions about (1) the effectiveness of Ginnie Mae’s internal control over financial reporting and (2) Ginnie Mae’s compliance with laws, regulations, contracts, and grant agreements or other matters.  Sikich is responsible for the attached Independent Auditors’ Report, dated November 13, 2024, and the conclusions expressed therein.  Our review disclosed no instances in which Sikich did not comply, in all material respects, with U.S. generally accepted government auditing standards.

When Ginnie Mae publishes its Annual Report, we will update this post to include this report and a link to Ginnie Mae's audited financial statements.

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

Department of Housing and Urban Development OIG

United States