WASHINGTON, Nov. 16, 2010 /PRNewswire-USNewswire/ -- The National Aeronautics and Space Administration received a much-improved financial statement audit opinion for the 2010 fiscal year.
"I am pleased to receive this qualified audit opinion that reflects the fact NASA is fairly stating our financial position to our stakeholders," NASA Chief Financial Officer Elizabeth Robinson said. "We are working hard to provide useful, accurate information about our financial results, and this audit opinion is an important achievement in that effort."
It marked the first time since the 2002 fiscal year that independent auditors issued a qualified opinion, with no material weaknesses, rather than a disclaimer of opinion on NASA's financial statements. The agency's independent auditors also reported that, in their opinion, NASA's fiscal 2010 financial statements fairly represent the financial position of the agency as of Sept. 30, 2010, and its budgetary resources for the year that ended. This significant achievement is clear evidence of NASA's progress in financial management during the past decade.
As a result of successful efforts to fully integrate the financial accounting system, the auditors concluded for the first time since the 2000 fiscal year that NASA is now substantially compliant with federal financial management systems requirements of the Federal Financial Management Improvement Act.