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2015 Audited Financial Statements of United States (Just released)

[From the Independent Auditor’s Report on page 239 of the Financial Report of the United States Government for Fiscal Year 2015]

February 27, 2016

[To] The President, The President of the Senate, The Speaker of the House of Representatives:

In our audits of the U.S. government’s consolidated financial statements as of and for the fiscal years ended September 30, 2015, and 2014, we found the following:

  • Certain material weaknesses1 in internal control over financial reporting and other limitations on the scope of our work resulted in conditions that continued to prevent us from expressing an opinion on the accompanying accrual-based consolidated financial statements as of and for the fiscal years ended September 30, 2015, and 2014.2
  • Significant uncertainties (discussed in Note 23 to the consolidated financial statements), primarily related to the achievement of projected reductions in Medicare cost growth, and a material weakness in internal control over financial reporting, prevented us from expressing an opinion on the sustainability financial statements,3 which consist of the 2015 Statement of Long-Term Fiscal Projections; the 2015, 2014, 2013, 2012, and 2011 Statements of Social Insurance; and the 2015 and 2014 Statements of Changes in Social Insurance Amounts.