On December 17, 2013, the OIG issued Audit Report 14-05, Independent Auditors’ Report on the SBA’s FY 2013 Special-Purpose Financial Statements. In accordance with the Office of Management and Budget Circular No. A-136, Financial Reporting Requirements and the Treasury Financial Manual, Part 2, Chapter 4700 (TFM 2-4700), the independent auditor issued its report on the Small Business Administration’s (SBA) reclassified balance sheet as of September 2013 and 2012, and the reclassified statements of net costs and changes in net position and Federal trading partner note for the year then ended.
The auditor found that the statements, including the Federal trading partner note, present fairly in all material respects, the financial position of the SBA as of September 30, 2013, and 2012. Also, the results of operations and the changes in net position for the period then ended are in accordance with U.S. generally accepted accounting principles, and the presentation is in conformance with the requirements of TFM 2-4700.