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Audit Reports

Date

Quality Control Review of the Independent Auditor’s Report on the Federal Aviation Administration’s Audited Consolidated Financial Statements for Fiscal Years 2020 and 2019

Requested By
Required by the Chief Financial Officers Act of 1990
Project ID
QC2021007
File Attachment
What We Looked At
We 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, 2020, and September 30, 2019, and provide an opinion on those financial statements, to report on internal control over financial reporting, and to report on compliance with laws and other matters. The contract requires the audit to be performed in accordance with U.S. generally accepted Government 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. We performed a quality control review of KPMG’s report dated November 9, 2020, and related documentation, and inquired of its representatives.
 
What We Found
Our quality control review disclosed no instances in which KPMG did not comply, in all material respects, with U.S. generally accepted Government auditing standards.
 
Recommendations
FAA concurred with KPMG’s three recommendations. We agree with KPMG’s recommendations and are not making any additional recommendations.

Recommendations

Closed on
No. 1 to FAA
KPMG recommended that FAA management design and implement procedures to consistently and timely perform and document audit log reviews as required by standards for effective internal control systems and/or internal policies. 
No. 2 to FAA
KPMG recommended that FAA management design and Implement procedures to consistently and timely perform and document user account access reviews as required by standards for effective internal control systems and/or internal policies.
Closed on
No. 3 to FAA
KPMG recommended that FAA management implement component-specific system security plan requirements.