FY 2019 - Financial Statements Audit – U.S. Department of Education

The independent auditors opined that the consolidated financial statements present fairly, in all material respects, the financial position of the United States Department of Education as of September 30, 2019 and 2018, and its net costs, changes in net position, and budgetary resources for the years then ended in accordance with U.S. generally accepted accounting principles. The report identified material weaknesses in controls over the reliability of information used in modeling activities and significant deficiencies regarding information technology controls and monitoring of service organizations.