Federal Reports

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, 2021, and September 30, 2020. KPMG was also required to provide an opinion on those financial statements, 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 Government auditing standards, Office of Management and Budget audit guidance, and the Governmental 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, 2021, 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.

Pursuant to the Reports Consolidation Act of 2000, the Office of Inspector General must issue an annual statement summarizing what the Inspector General considers the most serious management and performance challenges facing the Department of Homeland Security and assessing its progress addressing them.

This report details KPMG’s findings of its audit of financial statements from the Bureau of Trust Funds Administration for fiscal years 2021 and 2020.