01	U.S. Environmental Protection Agency	10-2-0166
f KM ^	Hffiro of Incnortnr f^onoral	July 19, 2010
*	U  O  L. I I V 11 U llllldlldl I I UlCvll
% Office of Inspector General
At a Glance
Catalyst for Improving the Environment\
Why We Performed These
Agreed-Upon Procedures
We performed agreed-upon
procedures on the U.S.
Environmental Protection
Agency (EPA) Fiscal Year
(FY) 2010 Second Quarter
Financial Statements. We did
so to assist EPA in evaluating
whether its quarterly Financial
Statements were compiled
consistently with the Treasury
United States Standard General
Ledger Crosswalk, and to
identify significant fluctuations
in financial line item balances
from the previous year.
Agencies submit unaudited
interim Financial Statements to
the Office of Management and
Budget (OMB) 21 days after
the end of each of the first three
quarters of the fiscal year.
Agencies should include
management's explanation of
significant variances in types or
amounts of assets, liabilities,
costs, revenues, obligations,
and outlays, along with the
submitted statements.
Agreed-Upon Procedures on EPA's Fiscal Year 2010
Second Quarter Financial Statements
What We Found
We performed certain agreed-upon procedures on the Agency's FY 2010 Second
Quarter Financial Statements. We compared the statements with EPA's
crosswalk, recomputed them for mathematical accuracy, and compared them with
balances separately generated by us.
Below are the results of our performance of the agreed-upon procedures:
The financial statements generated by the Office of Inspector General
agreed with EPA's FY 2009 Second Quarter Financial Statements for the
Consolidated Balance Sheet, Consolidated Statements of Net Cost, Net Cost
by Goal, Consolidating Statement of Changes in Net Position (including
Earmarked Funds), Combined Statement of Budgetary Resources, and
Statement of Custodial Activity.
The Agency identified 10 fluctuations in its financial statements and
submitted them to OMB.
We found that EPA's Treasury Symbols were in compliance with Statement
of Federal Financial Accounting Standards 27.
We found that the on-top entry to record child agency balances agreed with
the support.
One FY 2009 on-top was not reversed completely in FY 2010.
There were differences between the FY 2010 beginning balance and FY
2009 ending balances due to adjustments the Agency made during the
second quarter.
The elimination and consolidation entries appear reasonable and complete.
The agreed-upon procedures do not constitute an audit of the quarterly Financial
Statements or any part thereof, the objective of which would be the expression of
an opinion on the quarterly Financial Statements or any part thereof.
For further information,
contact our Office of
Congressional, Public Affairs
and Management at
(202) 566-2391.
To view the full report,
click on the following link: