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Report of Independent Auditors' – Cover Letter
I am pleased to provide you with the attached audit report required by the Chief Financial Officers Act of 1990, as amended, which presents an unqualified opinion on the Department of Commerce’s FY 2007 consolidated financial statements. The audit results indicate that the Department has established an internal control structure that facilitates the preparation of reliable financial and performance information. We commend the Department for the noteworthy accomplishment of once again attaining an unqualified opinion—the ninth consecutive year. The independent public accounting firm of KPMG LLP performed the audit of the Department’s financial statements for the year ended September 30, 2007. The contract required that the audit be done in accordance with U.S. generally accepted government auditing standards and Office of Management and Budget Bulletin 07-04, Audit Requirements for Federal Financial Statements. In its audit of the Department, KPMG found that:
The Department implemented corrective actions during FY 2007 to resolve many of the previously identified information technology control weaknesses and agreements in violation of the Anti-Deficiency Act. These actions and management’s expression of its intent to resolve the remaining and newly identified weaknesses are evidence of the Department’s continued commitment to sound financial management, effective internal controls, and reliable financial/performance information. My office oversaw the audit performance and delivery. We reviewed KPMG’s report and related documentation and made inquiries of its representatives. Our review disclosed no instances where KPMG did not comply, in all material respects, with U.S. generally accepted government auditing standards. However, our review cannot be construed as an audit in accordance with U.S. generally accepted government auditing standards. It was not intended to enable us to express, and we do not express, any opinion on the Department’s consolidated financial statements, conclusions about the effectiveness of internal controls, or conclusions on compliance with laws, regulations, contracts, and grant agreements. KPMG is solely responsible for the attached audit report dated November 9, 2007, and the conclusions expressed in the report. An audit action plan is not required to address the significant deficiency reported by KPMG. However, we ask that you provide a plan addressing the related specific recommendations included in the separate, limited-distribution information technology general controls report (FSD-18530-8-0001) in accordance with Department Administrative Order 213-5. If you wish to discuss the contents of this report, please call me on (202) 482-4661, or John Seeba, Assistant Inspector General for Auditing, on (202) 482-5910. We appreciate the cooperation and courtesies the Department extended to both KPMG and my staff during the audit. Attachment
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