Report 17-04: Independent Auditors’ Report on the SBA’s FY 2016 Special-Purpose Financial Statements

We contracted with the independent certified public accounting firm KPMG LLP (KPMG) to audit the U.S. Small Business Administration’s (SBA) Closing Package Financial Statement Report, which comprises the Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS) Reconciliation Report – Reclassified Balance Sheet as of September 30, 2016, and the related GTAS Reconciliation Reports – Reclassified Statements of Net Cost and Changes in Net Position for the year then ended, and the related notes to the financial statements (hereinafter referred to as the “closing package financial statements).

KPMG performed the audit in accordance with the Office of Management and Budget Circular No. A-136, Financial Reporting Requirements, Treasury Financial Manual, Part 2, Chapter 4700 (TFM 2-4700), and Treasury’s Supplemental Guidance to the TFM Volume I, Chapter 2, Chapter 4700.

The attached independent auditor’s report presents an unmodified opinion on SBA’s special-purpose financial statements for FY 2016.  Specifically, KPMG reported that the statement present SBA’s financial position for FY 2016 fairly in all material respects.  Also, the results of operations and the changes in net position for the period are in accordance with U.S. generally accepted accounting principles, and the presentation is in conformance with the requirements of TFM 2-4700.