Equal Employment Opportunity Commission
We audited the accompanying Consolidated Balance Sheets of the Equal Employment Opportunity Commission (EEOC) as of September 30, 2006, and 2005; related Consolidated Statements of Net Cost, Changes in Net Position, and Financing; and Combined Statements of Budgetary Resources for the years then ended. These financial statements are the responsibility of EEOC management. Our responsibility is to express an opinion on the financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards; standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget (OMB) Bulletin 06-03, Audit Requirements for Federal Financial Statements. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting amounts and disclosures in the financial statements. An audit also includes assessing accounting principles used and significant estimates made by management, as well as evaluating overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of EEOC as of September 30, 2006, and 2005, and its net costs, changes in net position, combined budgetary resources, and financing for the years then ended in conformity with accounting principles generally accepted in the United States of America.
Two types of information in EEOCs Performance and Accountability Report are not a part of EEOCs basic financial statements: Managements Discussion and Analysis (MD&A) and other accompanying information. These are, however, required by OMB Circular A-136, Financial Reporting Requirements, and the Federal Accounting Standards Advisory Boards Statement of Federal Financial Accounting Standards No. 15, Managements Discussion and Analysis. Other accompanying information consists of the full Performance and Accountability Report, except for the MD&A, basic financial statements and notes to the financial statements, and this auditors report. With respect to EEOCs MD&A, we made certain inquiries of management and compared information for consistency with EEOCs audited financial statements and against other knowledge we obtained during our audit. We did not audit the MD&A or the other accompanying information and therefore express no opinion on them.
In accordance with Government Auditing Standards, we issued separate reports dated November 2, 2006, on EEOCs internal control and compliance with laws and regulations. Our reports on internal control and compliance are an integral part of an audit conducted in accordance with Government Auditing Standards and, in considering results of our audits, those reports should be read together with this report.
COTTON & COMPANY LLP
Colette Y. Wilson, CPA
November 2, 2006
This page was last modified on December 7, 2006
Return to Home Page