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Audit Report: OAS-FS-13-11

January 31, 2013

Department of Energy's Isotope Development and Production for Research and Applications Program's Fiscal Year 2010 Balance Sheet Audit

The Office of Inspector General (OIG) engaged the independent public accounting firm of KPMG, LLP (KPMG) to audit the balance sheet of the United States Department of Energy's (Department) Isotope Development and Production for Research and Applications Program (the Program) (a component of the Department) as of September 30, 2010.  KPMG concluded that KPMG concluded that the Isotope Program's balance sheet as of September 30, 2010, is presented fairly, in all material respects, in conformity with Government generally accepted accounting principles.

As part of the audit, KPMG also considered the Program's internal control over financial reporting.  KPMG noted certain matters involving internal controls and other operational matters.  Specifically, KPMG found inconsistencies in the Program's inventory activity and balances and incorrect recording of accumulated depreciation for one fixed asset.  In response to the findings, the Department concurred with the recommendations and proposed corrective actions to improve the Program's internal controls.