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Opinion on the Department’s consolidated financial statements and footnotes
Review of Management’s Discussion and Analysis, required supplementary stewardship information (RSSI), and other required supplementary information (RSI)
Opinion on the Closing Package AUP on intragovernmental
Material Weakness – Old Reportable conditions in which the design or operation
of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud, in amounts that would be material in relation to the financial statements being audited, may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Material Weakness – New A significant deficiency, or combination of significant
deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected.
Reportable Condition – Old Matters relating to significant deficiencies in the
design or operation of internal controls that could adversely affect the entity’s ability to record, process, summarize, and report financial data consistent with the assertions by management.
Significant Deficiencies – New Deficiencies in internal control that adversely
affect the entity’s ability to initiate, authorize, record, process, or report financial data reliably in accordance with GAAP, such that there is more than a remote likelihood that a misstatement of the entity’s financial statements that is more than inconsequential will not be prevented or detected.
Remote – same as SFAS No. 5 – less than probable or possible (more than remote but less than likely)
Inconsequential – a misstatement is inconsequential if a reasonable person would conclude that the misstatement, either individually or when aggregated with other misstatements, would clearly be immaterial to the financial statements
Undelivered orders remediation IT controls and network security Property, plant and equipment (including CWIP) Environmental liabilities (including EM, LM, active
facilities, and other environmental liabilities) Nuclear materials (valuation, production costing,
and disposition) Implementation of FAS 158, Employers’
Accounting for Defined Pension and Other Postretirement Plans