View PDF Document

Summary

On October 26, we issued a quality control review report on a single audit performed by Deloitte & Touche on the New York Metropolitan Transportation Authority’s use of DOT grants for the fiscal year for the State of New York ending December 31, 2007. During this period, the Authority received about $1.55 billion of grants from FTA. Deloitte & Touche rendered an unqualified (clean) opinion on the Authority’s financial statements and did not question any costs concerning DOT grant programs. In addition, it did not identify any significant deficiencies in internal controls over compliance with the FTA programs. We determined that Deloitte & Touche’s work generally met the requirements of Generally Accepted Government Auditing Standards, the Single Audit Act of 1984, as amended, and the Office of Management and Budget Circular A–133. We found nothing to indicate that Deloitte & Touche’s opinion on the financial statements or reports on internal control and compliance were inappropriate or unreliable.

We also performed a limited review of PricewaterhouseCoopers work on two subcomponents of the Authority, the New York City Transit Authority and Metropolitan Suburban Bus Authority for the State of New York fiscal year ending December 31, 2008. We identified several documentation deficiencies in PricewaterhouseCoopers’ workpapers. Based on the explanations and additional information provided by PricewaterhouseCoopers, we determined that these documentation deficiencies did not affect the overall audit results. However, they should be corrected in future audits to adequately support the audit conclusion. Deloitte & Touche and PricewaterhouseCoopers concurred with our recommendations.