The OIG’s contracted auditors found that the FY 2016 financial statements for the Department and FSA were presented fairly in all material respects, in accordance with generally accepted accounting principles. However, the auditors identified two significant deficiencies in internal control over financial reporting: (1) The auditors found significant deficiencies in controls over the Department’s processes for model design and development, risk assessment, model operation and validation, and oversight. (2) The auditors found persistent information technology controldeficiencies, including security management, access controls, and configuration management, which can increase the risk of unauthorized access to the Department’s systems used to capture, process, and report financial transactions and balances, affecting the reliability and security of the data and information.
| Report Date | Agency Reviewed / Investigated | Report Title | Type | Location | |
|---|---|---|---|---|---|
| Department of Education | Final Independent Auditors' Report - ED's 2016 Financial Statements | Audit | Agency-Wide | View Report | |
| Department of Education | Final Independent Auditors' Report - FSA's 2016 Financial Statements | Audit | Agency-Wide | View Report | |
| Board of Governors of the Federal Reserve System | Opportunities Exist to Increase Employees' Willingness to Share Their Views About Large Financial Institution Supervision Activities | Inspection / Evaluation | Agency-Wide | View Report | |
| Commodity Futures Trading Commission | Audit of CFTC's Financial Statements for FY2016 | Other | Agency-Wide | View Report | |
| Department of Housing and Urban Development | Audit of FHA’s Fiscal Years 2016 and 2015 (Restated) Financial Statements | Audit | Agency-Wide | View Report | |
| Office of Personnel Management | Audit of the Office of Personnel Management’s Fiscal Year 2016 Consolidated Financial Statements | Audit | Agency-Wide | View Report | |
| Chemical Safety and Hazard Investigation Board | CSB Has Effective "Identify" and "Recover" Information Security Functions, but Attention Is Needed in Other Information Security Function Areas | Audit | Agency-Wide | View Report | |
| Consumer Product Safety Commission | Audit of the Consumer Product Safety Commission’s Fiscal Year 2016 Financial Statements | Audit | Agency-Wide | View Report | |
| Denali Commission | Top Management and Performance Challeneges Facing the Denali Commission in FY2017 | Top Management Challenges | Agency-Wide | View Report | |
| Environmental Protection Agency | Improvements Needed in EPA’s Information Security Program | Audit | Agency-Wide | View Report | |
