November 14, 2017
Required by the Accountability of Tax Dollars Act of 2002
Quality Control Review for the Surface Transportation Board’s Audited Financial Statements for Fiscal Years 2017 and 2016 (restated)
What We Looked At
This report presents the results of our quality control review (QCR) of the Surface Transportation Board’s (STB) audited financial statements for fiscal years 2017 and 2016 (restated). Leon Snead & Company, P.C. (Leon Snead), under contract with us, issued a clean (unmodified) audit opinion on STB’s financial statements. Lean Snead withdrew its prior auditor’s report dated November 7, 2016, due to errors in the statements that in aggregate were material. The 2016 (restated) statements included in the attached report replace those prior statements. Leon Snead reported two material weaknesses and one significant deficiency in internal control over financial reporting. The report did not include any instances of reportable noncompliance with tested laws and regulations.
What We Found
We performed a QCR of Leon Snead’s report and related documentation and found no instances in which Leon Snead did not comply, in all material respects, with generally accepted Government auditing standards.