Fiscal Year 2020 Selected Financial Activities and Accounting Records

The Postal Reorganization Act of 1970 requires annual audits of the Postal Service’s financial statements. In addition, the Postal Accountability and Enhancement Act of 2006 requires the Postal Service to comply with Section 404 of the Sarbanes-Oxley Act. This section requires the Postal Service to report the scope and adequacy of its internal control structure and procedures and assess their effectiveness. Further, Postal Service policy requires annual audits of officers’ travel and representation expenses. Our audit objectives were to determine whether the Postal Service: 1) Fairly stated accounting transactions in the general ledger and whether selected key controls surrounding those transactions were designed and operating effectively; 2) Properly tested, documented, and reported its examination of selected key financial reporting controls related to Postal Service Headquarters (HQ) and Accounting Service Centers.