U.S. flag

An official website of the United States government Here’s how you know

The .gov means it’s official.

Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

The site is secure.

The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Hotline

Report Fraud, Waste and Abuse
November 13, 2016
  • Housing
2017-FO-0002

(Reissued on 7/7/17)

This report was reissued on July 7, 2017, to correct Appendix A. This reissued report now correctly shows the monetary benefit associated with each recommendation.

This report presents the results of our audit of FHA’s fiscal years 2016 and 2015 (restated) financial statements, including our report on FHA’s internal control and test of compliance with selected provisions of laws and regulations applicable to FHA. 

In our opinion, except for the effects of FHA’s general counsel refusal to sign off on certain matters included in the management representation letter concerning all known actual or possible FHA litigations, claims, and assessments, FHA’s fiscal years 2016 and 2015 financial statements were presented fairly, in all material respects, in accordance with the U.S. generally accepted accounting principles for the Federal Government.  Our audit disclosed two material weaknesses, three significant deficiencies in internal controls, and one instance of noncompliance with applicable laws and regulations.  Our audit recommendations are directed toward improving and strengthening FHA’s internal control over financial reporting.