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NASA OIG: Status of FY 2006 Management Letter Findings and Recommendations, in connection with the audit of NASA's FY 2007 Financial Statements

Status Report From: NASA Office of Inspector General
Posted: Monday, March 31, 2008

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Full report

TO: Chief Financial Officer

FROM: Assistant Inspector General for Auditing

SUBJECT: Transmittal of the Final "Status of Fiscal Year 2006 Management Letter Findings and Recommendations" Letter, Prepared by Ernst & Young LLP, in Connection with the Audit of the National Aeronautics and Space Administration's Fiscal Year 2007 Financial Statements (Report No. IG-08-011; Assignment No. A-07-008-01)

Under the Chief Financial Officers Act of 1990, NASA's financial statements are to be audited in accordance with generally accepted government auditing standards. The Office of Inspector General selected the independent certified public accounting firm Ernst & Young LLP (E&Y) to audit NASA's financial statements in accordance with "Government Auditing Standards" and Office of Management and Budget's Bulletin No. 07-04, "Audit Requirements for Federal Financial Statements."

E&Y separately reported in its "Report on Internal Control," dated November 13, 2007, certain matters involving internal control and its operation that it considered to be significant deficiencies and material weaknesses under standards established by the American Institute of Certified Public Accountants. E&Y also followed up on matters involving internal control (Enclosure) that were reported in the "Comments on Internal Control and Other Matters" letter issued February 1, 2007, as part of the fiscal year (FY) 2006 audit.

In summary, E&Y's enclosed letter either identified similar recurring issues, which were communicated in the FY 2007 "Report on Internal Control," or stated that E&Y did not note the issue during the FY 2007 audit. Therefore, each recommendation made in the FY 2006 "Comments on Internal Control and Other Matters" letter is now considered closed.

During the FY 2007 audit, E&Y identified certain internal control issues that did not meet the criteria to be reported in the FY 2007 "Report on Internal Control," but rather were communicated to NASA management throughout the audit process. Therefore, there will not be a "Comments on Internal Control and Other Matters" letter issued as a result of the FY 2007 audit.

E&Y is responsible for the enclosed report and the conclusions expressed therein. Accordingly, we do not express an opinion on NASA's financial statements, internal controls over financial reporting, or compliance with certain laws and regulations.

We appreciate the courtesies extended during the testing and throughout the financial statement audit. If you have any questions, or need additional information, please contact me at 202-358-2572.

signed

Evelyn R. Klemstine

Enclosure

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