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Brought to you by the Council of the Inspectors General on Integrity and Efficiency
Federal Reports
Report Date
Agency Reviewed / Investigated
Report Title
Type
Location
Department of the Treasury
FINANCIAL MANAGEMENT: Audit of the Community Development Financial Institutions Fund's Financial Statements for Fiscal Years 2020 and 2019
FINANCIAL MANAGEMENT: Management Letter for the Audit of the Community Development Financial Institutions Fund's Financial Statements for Fiscal Years 2020 and 2019
Quality Control Review of the Independent Auditor’s Report on the Federal Aviation Administration’s Audited Consolidated Financial Statements for Fiscal Years 2020 and 2019
What We Looked AtWe contracted with the independent public accounting firm KPMG LLP to audit the Federal Aviation Administration’s (FAA) consolidated financial statements as of and for the fiscal years ended September 30, 2020, and September 30, 2019, and provide an opinion on those financial statements, to report on internal control over financial reporting, and to report on compliance with laws and other matters. The contract requires the audit to be performed in accordance with U.S. generally accepted Government auditing standards, Office of Management and Budget audit guidance, and the Government Accountability Office’s and Council of the Inspectors General on Integrity and Efficiency’s Financial Audit Manual. We performed a quality control review of KPMG’s report dated November 9, 2020, and related documentation, and inquired of its representatives. What We FoundOur quality control review disclosed no instances in which KPMG did not comply, in all material respects, with U.S. generally accepted Government auditing standards. RecommendationsFAA concurred with KPMG’s three recommendations. We agree with KPMG’s recommendations and are not making any additional recommendations.
What We Looked AtIn accordance with the Government Corporation Control Act of 1945, we audited the financial statements of the Saint Lawrence Seaway Development Corporation (SLSDC), a U.S. Government Corporation, as of and for the fiscal years ended September 30, 2020, and September 30, 2019. What We FoundIn our opinion, SLSDC’s financial statements present fairly, in all material respects, SLSDC’s financial position as of September 30, 2020, and September 30, 2019, and its operations and changes in cumulative results of operations, cash flows, budgetary resources and actual expenses, and changes in equity of the U.S. Government for the years then ended, in accordance with U.S. generally accepted accounting principles. We found no material weaknesses in internal control over financial reporting based on the limited procedures we performed. We also found no reportable noncompliance for fiscal year 2020, with provisions of the applicable laws, regulations, and contracts we tested. RecommendationsWe are making no recommendations.
