The Chief Financial Officers Act of 1990 requires the Inspector General to audit the agency’s financial statements each year, which is intended to help improve an agency’s financial management and controls over financial reporting.
For FY 2025, the auditors issued an unmodified opinion on the FY 2025 consolidated financial statement of the Department. The auditors reported that the FY 2025 consolidated financial statement is presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles. In the Report on Internal Control over Financial Reporting, the auditors identified one material weakness and three significant deficiencies in internal control over financial reporting. In the Report on Compliance and Other Matters, the auditors reported no instances of noncompliance that were required to be reported under Government Auditing Standards or OMB Bulletin No. 24-02.
Seven recommendations were made to the Department to address the internal control findings. Management concurred with the findings and agreed to take action to address the recommendations. See pages 84-96 for the report.
Read previous work related to financial statement audits.