- March 30, 2022
- Posted by: Bastion team
- Category: World News
What GAO Found
Based on the limited procedures GAO performed in reviewing the independent public accounting firm’s (IPA) financial audit of the Patient-Centered Outcomes Research Institute’s (PCORI) fiscal year (FY) 2021 financial statements, GAO did not identify any significant issues that it believes require attention. Had GAO performed additional procedures, other matters might have come to its attention that it would have reported. The IPA provided an unmodified audit opinion on PCORI’s FY 2021 and 2020 financial statements. Specifically, the IPA found PCORI’s financial statements were presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles. Further, for FY 2021, the IPA did not identify any deficiencies in internal control that it considered to be material weaknesses or any reportable noncompliance with the selected provisions of laws, regulations, contracts, and grant agreements it tested. PCORI agreed with the IPA report’s conclusions.
GAO provided a draft of its report to PCORI and the IPA for review and comment. PCORI’s Director of Finance and an IPA partner responded that they had no comments on GAO’s report.
Why GAO Did This Study
This report presents the results of GAO’s review of PCORI’s FY 2021 financial statement audit. The Patient Protection and Affordable Care Act (PPACA) created PCORI in 2010 as a federally funded, nonprofit corporation that is neither an agency nor establishment of the…