17-01, Audit of the Corporation for National and Community Service's Fiscal Year 2016 Financial Statements

Audit of the Corporation for National and Community Service's Fiscal Year 2016 Financial Statements

An audit of the Corporation for National and Community Service’s financial statements as of September 30, 2016 and 2015, found a recurrent significant deficiency in the Corporation’s internal control over financial reporting. The audit identified the causes of this repeat condition as a lack of governance and oversight, incomplete risk assessment, and inadequate monitoring processes.  There were no instances of noncompliance with applicable provisions of laws, regulations, contracts and grant agreements.  The Corporation’s financial statements presented fairly in all material respects and consistent with accounting principles generally accepted in the United States of America.