Audit Report: Southwestern Federal Power System's Fiscal Year 2011 Financial Statement Audit   [open pdf - 999KB]

"The attached report presents the results of the independent certified public accountants' audit of the Southwestern Federal Power System's (SWFPS) combined balance sheets, as of September 30, 2011 and 2010, and the related combined statements of changes in capitalization, revenues and expenses, and cash flows for the years then ended. To fulfill the Office of Inspector General's (OIG) audit responsibilities, we contracted with the independent public accounting firm of KPMG, LLP (KPMG) to conduct the audit, subject to our review. KPMG is responsible for expressing an opinion on the SWFPS's financial statements and reporting on applicable internal controls and compliance with laws and regulations. The OIG monitored audit progress and reviewed the audit report and related documentation. This review disclosed no instances where KPMG did not comply, in all material respects, with generally accepted Government auditing standards. The OIG did not express an independent opinion on the SWFPS's financial statements. KPMG concluded that the combined financial statements present fairly, in all material respects, the respective financial position of SWFPS as of September 30, 2011 and 2010, and the results of its operations and its cash flow for the years then ended, in conformity with United States generally accepted accounting principles."

Report Number:
Department of Energy, Office of Inspector General, Report No. OAS-FS-13-06
Public Domain
Retrieved From:
United States. Department of Energy: http://www.energy.gov/
Media Type:
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