Audit of the National Science Foundation’s Fiscal Years 2016 and 2015 Financial Statements National Science Foundation Office of Inspector General January 17, 2017 OIG 17-2-001 At a Glance Audit of the National Science Foundation’s Fiscal Years 2016 and 2015 Financial Statements Report No. OIG 17-2-001 | January 17, 2017 Audit Results Kearney and Company (Kearney) issued an unmodified opinion on NSF’s financial statements. In its Report on Internal Control over Financial Reporting, Kearny did not report any material weaknesses in internal control; however, it did report one significant deficiency in internal control, which relates to NSF’s Information Technology control environment. Kearney reported no instances of noncompliance with certain provisions of laws, regulations, Why We Did This Audit contracts, and grant agreements that is tested. The Chief Financial Officer’s Act of Recommendations 1990, as amended, requires NSF’s Inspector General or an independent Kearney made three recommendations to improve the access external auditor, as determined by the controls process across the three financial systems it tested. Inspector General, to audit NSF’s financial statements. Under a contract we monitored, Kearney and Company, an independent public accounting firm, performed the audit Agency Response of NSF’s FY 2016 financial statements. NSF generally agreed with the internal control finding, but did not agree that it constitutes a deficiency significant Links enough to merit a reportable condition in financial reporting oversight. NSF will take corrective action to address the https://www.nsf.gov/pubs/2017/nsf1 findings, and has taken immediate actions to address the 7002/pdf/nsf17002.pdf#page=39 risks raised. for the Financial Section of NSF’s FY 2016 Agency Financial Report (AFR), which includes the audit reports. https://www.nsf.gov/pubs/2017/nsf1 7002/pdf/nsf17002.pdf contains the complete AFR. for the complete FY 2016 Annual
Audit of the National Science Foundation's Fiscal Years 2016 and 2015 Financial Statements
Published by the National Science Foundation, Office of Inspector General on 2017-01-17.
Below is a raw (and likely hideous) rendition of the original report. (PDF)