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Audit Report: OAS-FS-13-04

November 15, 2012

Department of Energy's Fiscal Year 2012 Consolidated Financial Statement

KPMG, LLP (KPMG) audited the consolidated balance sheets of the Department of Energy (Department) as of September 30, 2012 and 2011, and the related consolidated statements of net cost, changes in net position, and custodial activity, and combined statement of budgetary resources, for the years then ended.  KPMG concluded that these consolidated financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles and has issued an unqualified opinion based on its audits and the reports of other auditors for the years ended September 30, 2012 and 2011.
As part of this review, auditors also considered the Department's internal controls over financial reporting and tested for compliance with certain provisions of applicable laws, regulations, contracts, and grant agreements that could have a direct and material effect on the consolidated financial statements.  The audit revealed certain deficiencies in internal control over financial reporting related to unclassified network and information systems security that were considered to be a significant deficiency.  The aforementioned significant deficiency in the Department's system of internal controls is not considered a material weakness.

Topic: Management & Administration