Audits

On November 14, 2012, we issued an audit report on our quality control review of the Federal Aviation Administration’s (FAA) financial statements for fiscal years 2012 and 2011.  KPMG LLP, under contract to the Office of the Inspector General, issued a clean (unqualified) audit opinion on FAA’s financial statements. KPMG LLP’s report included two significant deficiencies in internal control over financial reporting.  There we no instances of reportable noncompliance with laws and regulations tested.