In accordance with the Chief Financial Officers Act of 1990 (Public Law 101-576), as amended, OIG is responsible for the conduct of the annual financial statement audit of FHA.  Our work includes the audit of FHA’s balance sheets as of September 30, 2014 and 2013, and the related statements of net costs and changes in net position, the combined statements of budgetary resources for the years then ended, and the related notes to the financial statements.  We conducted this audit in accordance with U.S. generally accepted government audit standards and OMB Bulletin 14-02, as amended, Audit Requirements for Federal Financial Statements.  Those standards require that we plan and perform the audit to obtain sufficient, appropriate evidence to provide a reasonable basis for our findings and conclusions based on our audit objectives.  We believe that the evidence obtained provides a reasonable basis for our findings and conclusions based on our audit objectives.  In our opinion, FHA’s fiscal year 2014 and 2013 financial statements were presented fairly, in all material respects, in accordance with the generally accepted accounting principles for the Federal government.  Additionally, our audit disclosed one material weakness, two significant deficiencies in internal controls, and one instance of noncompliance with applicable laws and regulations.