GSA Audit Receives Clean Opinion
Posted November 14, 2006
The U.S. General Services Administration’s Fiscal Year 2006 financial statements earned an unqualified, or “clean,” audit from independent auditors Price Waterhouse Coopers (PWC).
According to the report released by PWC on November 9, 2006, this audit opinion affirms that GSA’s internal financial reporting controls governing financial reporting are sufficient to maintain its customers' budget authority.
Issuance of an unqualified opinion means an auditor, upon review of an agency’s financial statements and accompanying notes, concluded that the financial statements and accompanying notes are presented fairly and conforms to generally accepted accounting principles. Financial statements certified as “clean” confirms that an auditor can report that the financial statements are reliable and represent the true financial condition of the Agency.
The audit opinion is more than an approval of accounting controls and principles. The unqualified or clean opinion signifies that the financial reporting and controls implemented are proper and sufficient to ensure the accuracy of GSA financial reporting and balances. It also promotes confidence in GSA customers that GSA is properly managing its budget authority for services and commodity orders.
The audit opinion advances one of Administrator Doan’s priorities, which is to enforce sound financial management practices through transparency, integrity, and accountability.
The Fiscal Year 2006 audit opinion was earned through planning and old-fashioned hard work and demonstrates GSA’s commitment to ensuring appropriate financial management of customer and taxpayer monies. On November 10, 2006, GSA filed its Fiscal Year 2006 Performance and Accountability Report (PAR) with the Office of Management and Budget. The GSA PAR includes the financial reports and audit findings.