1.2. Estudio de factibilidad
1.2.5. Componentes del estudio de factibilidad
As required by Government Auditing Standards issued by the Comptroller General of the United States, we have evaluated whether AFF/SADF has taken appropriate corrective action to address the finding and recommendations from the prior year’s financial statements audits that could have a material effect on the financial statements or other financial data significant to the audit objectives. The following table provides the Office of the Inspector General report number where the deficiency was reported, our recommendation for improvement, and the status of the previously identified material weakness and recommendation as of the end of FY 2015.
Report Material
Weakness Recommendations Status
Annual Financial Statements Fiscal Year 2014 Report No. 15-08 Improvements Needed in Analysis of Accounting Data, Review of Financial Statements, and Analysis of Obligations and Accrued Liability Estimates
Recommendation No. 1: Implement analytical review and analysis procedures, including the comparison of current year to prior year financial statement account balances, interrelated disclosures, and the investigation of significant fluctuations, as part of the financial statement preparation and review process.
In Process (Updated by Current Year Recommendation
No. 5)
Recommendation No. 2: Use complete and accurate underlying reports to prepare financial statement note disclosures.
Completed
Recommendation No. 3: Perform a more thorough review of the interim and annual financial statement packages.
In Process (Updated by Current Year Recommendation
No. 1)
Recommendation No. 4: Make revisions to the pending Obligation and Accrued Liability Estimation Methodology that include:
a. Updating the policy to include only relevant authoritative literature.
b. Developing and implementing an analysis that: (1) includes at least 3 years of prior CATS data supporting the estimated obligations and accrued liabilities, and (2) compares subsequently known data to the estimated accruals to determine the precision of the estimates over time.
Completed
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Independent Auditors’ Report on Internal Control over Financial Reporting Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards Page 10
EXHIBIT II
Report Material
Weakness Recommendations Status
Annual Financial Statements Fiscal Year 2014 Report No. 15-08 Improvements Needed in Analysis of Accounting Data, Review of Financial Statements, and Analysis of Obligations and Accrued Liability Estimates
c. Maintaining a quarterly analysis, including an aging of obligations and related accrued liabilities.
d. Developing and implementing written policy guidance to the participating agencies that describes how each data element in CATS is used as an assumption in the estimated obligation and related accrued liability.
e. Performing sufficient testing of underlying data to validate that the CATS outputs produce relevant and reliable information that should be used as the basis to estimate future outlays.
KPMG LLP Suite 12000 1801 K Street, NW Washington, DC 20006
KPMG LLP is a Delaware limited liability partnership, the U.S. member firm of KPMG International Cooperative (“KPMG International”), a Swiss entity.
Independent Auditors’ Report on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards
Inspector General
U.S. Department of Justice Chief Financial Officer
Assets Forfeiture Fund and Seized Asset Deposit Fund U.S. Department of Justice
We have audited, in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States; and Office of Management and Budget (OMB) Bulletin No. 15- 02, Audit Requirements for Federal Financial Statements, the consolidated financial statements of the U.S. Department of Justice Assets Forfeiture Fund (AFF) and Seized Asset Deposit Fund (SADF), which comprise the consolidated balance sheets as of September 30, 2015 and 2014, and the related consolidated statements of net cost and changes in net position, and the combined statements of budgetary resources for the years then ended, and the related notes to the consolidated financial statements, and have issued our report thereon dated November 9, 2015.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the AFF/SADF’s consolidated financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, and contracts, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests of compliance disclosed no instances of noncompliance or other matters that are required to be reported herein under Government Auditing Standards or OMB Bulletin No. 15-02.
We also performed tests of its compliance with certain provisions referred to in Section 803(a) of the Federal Financial Management Improvement Act of 1996 (FFMIA). Providing an opinion on compliance with FFMIA was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests of FFMIA disclosed no instances in which the AFF/SADF’s financial management systems did not substantially comply with the (1) federal financial management system requirements, (2) applicable federal accounting standards, and (3) application of the United States Government Standard General Ledger at the transaction level.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of compliance and the results of that testing, and not to provide an opinion on the AFF/SADF’s compliance. This report is an integral part of an
Independent Auditors’ Report on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards
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audit performed in accordance with Government Auditing Standards in considering the AFF/SADF’s compliance. Accordingly, this communication is not suitable for any other purpose.