Audit Report 16-03: Independent Auditors’ Report on the SBA’s FY 2015 Special-Purpose Financial Statements

Date Issued: 
Tuesday, November 17, 2015
Report Number: 
16-03

On November 17, 2015, OIG issued Audit Report 16-03, Independent Auditors’ Report on the SBA’s FY 2015 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) reclassified balance sheet as of September 2015 and 2014, and the reclassified statements of net costs and changes in net position and Federal trading partner note (referred to as special-purpose financial statements) for fiscal year (FY) 2015, ending September 30, 2015.  The independent auditor performed the audit 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 attached independent auditor’s report presents an unmodified opinion on SBA’s special-purpose and consolidated financial statements for FY 2015.  Specifically, KPMG reported that the statements, including the Federal trading partner note, present SBA’s financial position for FY 2014 and 2015 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.