November 17, 2021
The Department of Energy’s Fiscal Year 2021 Consolidated Financial Statement Audit
The attached report presents the results of the independent certified public accountants’ audit of the Department of Energy’s consolidated financial statements as of September 30, 2021, and 2020, and the related consolidated statements of net cost, changes in net position, custodial activity, and combined statements of budgetary resources for the years then ended.
The Office of Inspector General (OIG) engaged 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 Department’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 Department’s financial statements.
KPMG audited the consolidated financial statements of the Department as of September 30, 2021, and 2020, and the related consolidated statements of net cost, changes in net position, custodial activity, and combined statements of budgetary resources for the years then ended. KPMG concluded that these consolidated financial statements are presented fairly, in all material respects, in conformity with United States generally accepted accounting principles and had issued an unmodified opinion based on its audits and the reports of other auditors for the years ended September 30, 2021, and 2020.
As part of this audit, auditors also considered the Department’s internal controls over financial reporting and tested for compliance with certain provisions of laws, regulations, contracts, and grant agreements that could have a direct and material effect on the consolidated financial statements. The audit did not identify any deficiency in internal control over financial reporting that is considered a material weakness.
The OIG issued notices of findings and recommendations to management throughout the audit. In all instances, management concurred with the findings and recommendations. All findings will be detailed in management letters that are provided to the Department at a later date. The audit disclosed no instances of noncompliance or other matters required to be reported under applicable audit standards and requirements.