August 6, 2015

Western Federal Power System's Fiscal Year 2014 Financial Statement Audit

The Department of Energy Office of Inspector General contracted with the independent public accounting firm of KPMG, LLP, (KPMG) to conduct an audit of the Western Federal Power System's (Western) combined balance sheets, as of September 30, 2014 and 2013, and the related combined statements of changes in capitalization, revenues and expenses, and cash flows for the years then ended.  KPMG concluded that the combined financial statements present fairly, in all material respects, the respective financial position of Western as of September 30, 2014 and 2013, and the results of its operations and its cash flow for the years then ended, in conformity with United States generally accepted accounting principles.  The auditors' review of Western's internal control structure and compliance with certain laws and regulations disclosed no instances of noncompliance or other matters required to be reported under generally accepted Government auditing standards.

Topic: Management & Administration