Report | Jan. 6, 2022

Project Announcement: Oversight of the Audit of the FY 2022 Department of the Air Force Working Capital Fund Financial Statements (Project No. D2022-D000FT-0074.000)

Audit

Our planned oversight will begin immediately. The Chief Financial Officers Act of 1990, as amended, requires this audit. In accordance with the Act, the DoD Office of Inspector General is the principal auditor for the Department of the Air Force Working Capital Fund Financial Statements. We contracted with the independent public accounting firm of Ernst & Young, LLP (EY) to audit the Department of the Air Force Working Capital Fund Financial Statements as of and for the fiscal years ending September 30, 2022 and September 30, 2021. The objective of EY’s audit is to determine whether the FY 2022 Department of the Air Force Working Capital Fund Financial Statements and related notes are presented fairly and in conformity with accounting principles generally accepted in the United States of America. The objective of our oversight project is to provide contract oversight of EY’s audit of the Department of the Air Force Working Capital Fund Financial Statements as of and for the fiscal years ending September 30, 2022, and September 30, 2021, and to determine whether EY complied with applicable auditing standards. We will execute the contractor’s audit procedures associated with reviews of transactions and facilities that are Special Access Program, TOP SECRET, and TOP SECRET/Sensitive Compartmented Information and provide an unclassified version of the results of our review to EY to use in developing its overall audit conclusions.