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Audit Report: OAS-FS-12-01

November 15, 2011

The Federal Energy Regulatory Commission's Fiscal Year 2011 Financial Statement Audit

KPMG concluded that the financial statements present fairly, in all material respects, the financial position of the Federal Energy Regulatory Commission as of September 30, 2011, and its net costs, changes in net position, budgetary resources, and custodial activity for the years then ended, in conformity with United States generally accepted accounting principles.

The auditors' review of the Commission's internal control structure and compliance with certain laws and regulations disclosed no material weaknesses or instances of noncompliance required to be reported under generally accepted Government auditing standards or applicable Office of Management and Budget guidance.