Quality Control Review of the Department of Transportation’s Audited Financial Statements for Fiscal Years 2015 and 2014
This report presents the results of our quality control review of KPMG LLP’s audit of the Department of Transportation’s (DOT) consolidated financial statements for fiscal years 2015 and 2014. The audit’s objective was to determine whether DOT’s financial statements were fairly presented in accordance with accounting principles generally accepted in the United States of America. KPMG issued an unmodified audit opinion on DOT’s financial statements. KPMG reported one material weakness and one significant deficiency in internal controls over financial reporting. KPMG also found instances of reportable noncompliance with laws and regulations tested. Our QCR disclosed no instances in which KPMG did not comply, in all material respects, with auditing standards.