This audit is in accordance with the Chief Financial Officers Act of 1990.
According to a news release, the audit’s objective is “to express an opinion on whether DOT’s financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States.”
DOT engaged KPMG, LLP, an independent public accounting firm, to conduct the audit subject to our oversight.
KPMG will conduct its work in accordance with generally accepted Government auditing standards and the Office of Management and Budget’s Bulletin 22-01, Audit Requirements for Federal Financial Statements.
The work will be done at DOT Headquarters in Washington, D.C., and selected field offices. The audit report is due to OMB, the Department of the Treasury and the Government Accountability Office by Nov. 15.
Enterprise Services Center to be audited
As a Federal service provider, the DOT offers a range of business services to its Operating Administrations and other Federal organizations through its Enterprise Services Center.
The Office of Management and Budget requires Federal service providers to give client agencies annual reports from independent auditors that describe internal controls in accordance with the American Institute of Certified Public Accountants’ Statement on Standards for Attestation Engagements No. 18 (SSAE-18). DOT and other client agencies’ auditors will use the results of this review in their fiscal year 2023 financial statement audits.
KPMG, LLP will conduct this review as well.
The objectives of the review will be to determine whether management’s description of ESC’s systems are fairly presented, ESC’s controls are suitably designed, and ESC’s controls are operating effectively throughout the period of Oct. 1, 2022, through June 30, 2023. KPMG will do additional testing for the period July 1, 2023, through Sept. 30, 2023, and issue a follow-up letter to DOT’s office.
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