Federal Reports

In keeping with its responsibilities under the Inspector General Act of 1978, as amended, the OIG monitored the audit of TVA's fiscal year 2025 financial statements performed by Ernst and Young LLP (EY) to assure their work complied with Government Auditing Standards. Our review of EY's work disclosed no instance in which the firm did not comply in all material respects with Government Auditing Standards.

Semiannual Report to Congress, April 1, 2025 - September 30, 2025

We found that an independent government contractor defrauded a U.S. Geological Survey contract by submitting forged and falsified timecards. 

We contracted with the independent public accounting firm RMA Associates, LLC (RMA) to audit the consolidated financial statements of the United States International Development Finance Corporation (DFC) for the fiscal year ended September 30, 2025, report on internal control over financial reporting, and report on compliance with laws and other matters. The contract required the audit to be performed in accordance with U.S. generally accepted 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. 

In its audit of DFC, RMA reported 

• the consolidated financial statements were fairly presented, in all material respects, in accordance with U.S. generally accepted accounting principles;

• no material weaknesses1 and no significant deficiencies2 in internal control over financial reporting; and 

• no reportable noncompliance with provisions of laws tested and other matters. 

RMA is responsible for the attached auditor’s report dated November 14, 2025 and the conclusions expressed therein. We do not express opinions on DFC’s consolidated financial statements, or report on internal control over financial reporting, or report on compliance and other matters.