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. 

Under a contract monitored by the OIG, KPMG, an independent certified public accounting firm, performed an audit of the NCUA’s schedule of accounts receivable, net (other than intragovernmental) and other taxes and receipts as of and for the period ended September 30, 2025. KPMG conducted the audit in accordance with auditing standards generally accepted in the United States of America, in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, and in accordance with OMB Bulletin No. 24-02, Audit Requirements for Federal Financial Statements. Those standards and OMB Bulletin No. 24-02, require that KPMG plan and perform the audit to obtain reasonable assurance about whether the schedule is free from material misstatement.