NCUA closing package schedule gets clean opinion

The federal credit union regulator received a clean opinion from auditors on its fiscal 2018 closing package schedule of other assets and contributed capital, the agency’s inspector general said in a report released recently.

The National Credit Union Administration (NCUA) Office of Inspector General (OIG) report is dated Nov. 16 and is part of the federal government’s financial report and audit.

NCUA obtained its audit report from the independent firm KPMG LLC. NCUA’s OIG says the firm found that the closing package schedule “presents fairly, in all material respects, the other assets and contributed capital of the National Credit Union Administration as of September 30, 2018, in conformity with U.S. generally accepted accounting principles.” It also noted there were “no significant deficiencies” related to internal control that would constitute material weaknesses and “no instances of noncompliance” with other matters required to be reported.

NCUA Report #OIG-18-08 (Nov. 16, 2018)