Quality Control Review of the NTSB's Audited Financial Statements for Fiscal Years 2010 and 2009
On November 5, we issued a quality control report on the audit of the National Transportation Safety Board's (NTSB) financial statements for fiscal years 2010 and 2009. Leon Snead & Company, P.C., under contract to us and under our supervision, issued a clean (unqualified) audit opinion, but reported one significant deficiency related to NTSB's need to fully implement a managerial cost accounting system.
Complete financial statements are included in NTSB's Performance and Accountability Report, which also contains a copy of the Leon Snead & Company, P.C. report beginning on page 37.