Audit of the Millennium Challenge Corporation’s Financial Statements, Internal Controls, and Compliance

OFFICE OF INSPECTOR GENERAL for the Millennium Challenge Corporation AUDIT OF THE MILLENNIUM CHALLENGE CORPORATION’S FINANCIAL STATEMENTS, INTERNAL CONTROLS, AND COMPLIANCE FOR THE PERIOD ENDING SEPTEMBER 30, 2008 AND 2007 AUDIT REPORT NO. M-000-09-001-C November 17, 2008 WASHINGTON, DC Office of Inspector General for the Millennium Challenge Corporation November 17, 2008 Ambassador John J. Danilovich Chief Executive Officer Millennium Challenge Corporation th875 15 Street, N.W. Washington, DC 20005-2203 Subject: Audit of the Millennium Challenge Corporation’s Financial Statements, Internal Controls, and Compliance for the Period Ending September 30, 2008 and 2007 Report No. M-000-09-001-C Dear Mr. Ambassador, Enclosed is the final report on the subject audit. The Office of Inspector General (OIG) contracted with the independent certified public accounting firm of Cotton & Company LLP to audit the financial statements of the Millennium Challenge Corporation (MCC) for the period ending September 30, 2008. The contract required that the audit be performed in accordance with United States Generally Accepted Government Auditing Standards, Office of Management and Budget (OMB) Bulletin 07-04, Audit Requirements for Federal Financial Statements, and the GAO/PCIE Financial Audit Manual. In its audit of the MCC’s financial statements for the period ...