All Reports

On November 17, 2014, the OIG transmitted to the FTC the financial statement audit performed by an independent accounting firm -- which issued an unmodified (clean) opinion of the FTC's FY 2014 financial statements. When performing an audit of an agency's major financial systems and accounting processes, auditors often detect certain matters involving internal controls that do not rise to a level of seriousness to be reflected in the auditor's opinion report.

This audit report, required by the Accountability of Tax Dollars Act of 2002, presented an unmodified (clean) opinion on the Federal Trade Commission (FTC)'s FY 2014 financial statements. The OIG contracted with the independent certified public accounting firm of Brown & Company CPAs, PLLC (Brown & Company) to audit the financial statements of the FTC as of September 30, 2014 and 2013, and for the years then ended. In its audit, Brown & Company found (1) the financial statements are presented fairly, in all material respects, in accordance with U.S.

The report summarizes the FTC OIG’s activities and accomplishments during the second half of the FY 2014 reporting period.

The Reports Consolidation Act of 2000 requires that the Inspector General provide a summary of the OIG's perspective on the most serious management and performance challenges facing the agency, as well as a brief assessment of the agency's progress in addressing those challenges.

The FTC OIG performed an evaluation of the FTC's allocation and management of consumer protection resources with the BCP. Specifically, this review focused on assessing the BCP's enforcement and non-enforcement strategies, goals, policies, and procedures.

On December 16, 2013, the OIG transmitted to the FTC the financial statement audit performed by the independent public accounting firm of Brown & Company CPAs, LLC. The auditors issued an unmodified (clean) opinion on the financial statements. The management letter contained five recommendations that warranted management's consideration. These recommendations, all of which were discussed with the appropriate members of management, were intended to improve the FTC's internal control or result in other operating efficiencies.

The report summarizes the FTC OIG’s activities and accomplishments during the first half of the FY 2014 reporting period.

In accordance with Section 3 (b) of Public Law 111-204, Improper Payments Elimination and Recovery Act of 2010 (hereafter referred to as IPERA), this memorandum communicated the results of the OIG's determination of the Federal Trade Commission's (FTC's) compliance with applicable provisions of the IPERA in its FY 2013 activities. In short, the OIG determined that the FTC is compliant with the IPERA and applicable guidance, based on the Office of Management and Budget's definition of compliance.

The Federal Information Security Management Act of 2002 (FISMA) provides a comprehensive framework for ensuring the effectiveness of technical, administrative, and physical security controls over federal information resources. The Act mandates an annual OIG evaluation of compliance with FISMA requirements and related information security policies, procedures, standards, and guidelines and assessment of the level of security afforded to associated information assets.

In PDF pages 117-122 of the Federal Trade Commission's Performance and Accountability Report for Fiscal Year 2013, find the unqualified opinion on the FTC's FY 2013 financial statements. The OIG contracted with the independent certified public accounting firm of Brown & Company CPAs, PLLC, to audit the FTC's financial statements as of September 30, 2013, and for the year then ended.