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FMFIA Sections 2 & 4

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FMFIA Section 2, Management Control

The Commission has no declared material weakness under FMFIA for FY 2010 and FY 2009 in the area of financial reporting that hinders preparation of timely and accurate financial statements.

FMFIA Section 4, Financial Management Systems

The Commission declared no systems nonconformance under FMFIA during FY 2010 and FY 2009. The independent auditors’ reports for FY 2010 and FY 2009 disclosed no instances of noncompliance or other matters that were required to be reported under Generally Accepted Government Auditing Standards (GAGAS) and OMB Bulletin 07-04, Audit Standards for Federal Financial Statements.

 

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