New Audit Announcements
February 27, 2020
Required by the Accountability of Tax Dollars Act of 2002
Audit Initiated of the Surface Transportation Board’s Financial Statements for Fiscal Years 2020 and 2019
In accordance with the Accountability of Tax Dollars Act of 2002, we are initiating an audit of the Surface Transportation Board’s (STB) financial statements for fiscal years 2020 and 2019. The objective of this audit is to express an opinion on whether STB’s financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States.
We have engaged an independent audit firm—Leon Snead & Company, PC—to conduct this audit subject to OIG oversight. The firm will conduct its work in accordance with generally accepted Government auditing standards and the Office of Management and Budget’s (OMB) Bulletin 19-03, Audit Requirements for Federal Financial Statements. The audit report is due to OMB by November 15, 2020.