January 7, 2015

Management Letter on the Federal Energy Regulatory Commission's Fiscal Year 2014 Financial Statement Audit

During the audit, KPMG, LLP (KPMG), our contract auditors, noted certain matters involving internal control and other operational matters. These comments and recommendations are intended to improve internal control or result in other operating efficiencies. Additionally, KPMG identified certain deficiencies in internal control that it considered to be a material weakness.

KPMG noted 2 new findings that were issued during the course of the Federal Energy Regulatory Commission's Fiscal Year 2014 Financial Statement Audit. Management concurred with and provided planned corrective actions for the recommendations listed in the management letter, and management's comments are included in each finding.

Topic: Management & Administration