New Audit Announcements
Audit Initiated of FAA's Consolidated Financial Statements for Fiscal Years 2020 and 2019
In accordance with the Chief Financial Officers Act of 1990, we are initiating an audit of the Federal Aviation Administration’s (FAA) consolidated financial statements for fiscal years 2020 and 2019. The objective of this audit will be to express an opinion on whether FAA’s financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States. We have engaged KPMG LLP, an independent accounting firm, to conduct this audit subject to our oversight. KPMG will conduct its work in accordance with generally accepted Government auditing standards and the Office of Management and Budget’s (OMB) Bulletin 19-01, Audit Requirements for Federal Financial Statements. The audit report is due to OMB by November 15, 2020.