New Audit Announcements
February 11, 2021
Required by the Chief Financial Officers Act of 1990
Audit Initiated of FAA's Consolidated Financial Statements for 2021 and 2020
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 2021 and 2020. 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 public 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 19-03, Audit Requirements for Federal Financial Statements. The work will be done at FAA Headquarters in Washington, DC, and selected field offices. The audit report will be delivered to OMB, the Treasury Department, and the Government Accountability Office by November 15, 2021.