FT-AR-10-005 - FY 2009 Postal Service Financial Statements Audit - Washington, DC Headquarters

November 30, 2009 VINCENT H. DEVITO, JR. VICE PRESIDENT, CONTROLLER SUBJECT: Audit Report – Fiscal Year 2009 Postal Service Financial Statements Audit – Washington, D.C., Headquarters (Report Number FT-AR-10-005) This report presents the results of our audit of selected financial activities and accounting records at Washington, D.C., Headquarters for the fiscal year (FY) ended September 30, 2009 (Project Number 09BM007FT000). The Postal Reorganization Act of 1970, as amended, requires annual audits of the Postal Service’s financial statements. We conducted this audit in support of the independent public accounting (IPA) firm’s overall audit opinion on the Postal Service’s financial statements. This audit addresses financial risk. See Appendix A for additional information about this audit. Conclusion During our audit at the Washington, D.C., Headquarters, we noted:  Financial accounting policies and procedures provided for an adequate internal control structure and complied with accounting principles generally accepted in the U.S. 1 Accounting transactions at headquarters impacting the general ledger (GL) account balances were stated in accordance with accounting principles generally accepted in the U.S.  GL account balances conformed to the general classification of accounts on a basis consistent with that of the previous year.  The Postal Service complied with laws and regulations that have a direct and ...