Quality Control Review of Audited Financial Statements for FY 2008 and FY 2007, Federal Aviation Administration
On November 13, we issued a quality control report of the audit of the Federal Aviation Administration’s (FAA) Fiscal Years 2008 and 2007 financial statements. KPMG LLP, under contract to us and under our supervision, issued a clean (unqualified) audit opinion. However, KPMG indentified two significant deficiencies, one in FAA’s timely processing of transactions for Property, Plant, and Equipment, including the Construction in Progress account, and one in information technology controls over FAA and Third–Party Systems and Applications.
Complete financial statements will be included in FAA’s Performance and Accountability Report, which will also contain a copy of the KPMG report. This page will be updated when the link is available.