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Areas of Focus
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Agencies
- Department of Agriculture
- Department of Commerce
- Department of Defense
- Department of Education
- Department of Energy
- Environmental Protection Agency
- Department of Health and Human Services
- Department of Homeland Security
- Department of Housing and Urban Development
- Department of the Interior
- Department of Justice
- Department of Labor
- Department of State
- Department of Transportation
- Department of the Treasury
- Department of Veterans Affairs
- Army Corps of Engineers
- General Services Administration
- National Aeronautics and Space Administration
- National Science Foundation
- Office of Personnel Management
- Small Business Administration
- Social Security Administration
- U.S. Agency for International Development
Agency Snapshot:
Small Business Administration The Small Business Administration acts as a direct lender or guarantor of small business loans and provides management and technical assistance and contracting opportunities to small businesses. The agency also provides disaster assistance to communities that have undergone catastrophes with the intention of rebuilding the devastated economy and community simultaneously. The agency’s $7.7 billion in FY09 budgetary resources is used to support financial assistance, management and technical assistance, disaster assistance and regulatory assistance.
Like other agencies, it is committed to pursuing this important mission while managing its finances effectively, which includes ensuring its payments are accurate, using only property it needs, and accounting for its finances properly.
Audit Opinions
An audit opinion provides the public with an independent, third-party assessment as to whether the agency’s financial information is presented fairly. There are four types of audit opinions: Unqualified (clean), Qualified, Disclaimer, and Adverse. An unqualified audit opinion means that the auditor believes the financial information presented by the agency is fairly presented – which is our goal for all agencies. Qualified, Disclaimer or Adverse opinions indicate that financial reporting issues have been identified or the auditor could not render an opinion. The metric here shows audit opinions received by the agency.
| FY | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opinion | Disclaimer | Disclaimer | Qualified | Clean | Clean | Clean | Clean | Clean | Clean | Clean |
Financial Material Weaknesses Found in Audit Reports
In addition to rendering an overall opinion, auditors can cite major problems, or material weaknesses, in their reports that accompany the audited statements. Although material weaknesses vary, the more material weaknesses an agency has, the more likely the agency could have a significant misstatement in their financial information. Agencies are working hard to eliminate any material weaknesses in an effort to improve financial management. The metric here shows the number of material weaknesses in the last five fiscal years for the agency. More information is available in this report.
