The Social Security Administration’s Financial Report for Fiscal Year 2016
Our objective of this report was to fulfill our responsibilities under the Chief Financial Officers (CFO) Act of 1990 (Public Law 101-576) and related legislation, we monitored KPMG, LLP’s audit of the Social Security Administration’s (SSA) Fiscal Year 2016 financial statements to ensure the quality of the audit work performed was adequate.
The CFO Act, as amended, requires that SSA’s Inspector General or an independent external auditor, as determined by the Inspector General, audit SSA’s financial statements in accordance with applicable standards. Under a contract monitored by the Office of the Inspector General, KPMG, LLP an independent certified public accounting firm, audited SSA’s Fiscal Year (FY) 2016 financial statements.
KPMG, LLP Independent Auditors’ Report of the audit of SSA’s FY 2016 financial statements includes (1) report on the financial statements, including the opinions on the consolidated financial statements and sustainability financial statements, (2) report on internal control over financial reporting, including the opinion on management’s assertion about the effectiveness of internal control, and (3) report on compliance and other matters.