Based on the procedures performed by the U.S. Government General Accounting Office (GAO) regarding the independent public accountant’s (IPA) financial audit of the Patient-Centered Outcomes Research Institute’s (PCORI) fiscal year 2015 financial statements, GAO did not identify any significant issues related to the financial statement audit that it believes require attention.
This report presents the results of GAO’s review of the financial audit of PCORI’s fiscal year 2015 financial statements. PCORI was created in 2010 by the Patient Protection and Affordable Care Act (PPACA or Obamacare) as a federally funded, nonprofit corporation that is neither an agency nor establishment of the United States government.
The IPA provided an unmodified audit opinion on PCORI’s fiscal years 2015 and 2014 financial statements.
Specifically, the IPA found that PCORI’s financial statements were presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles.
Further, for fiscal year 2015, 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 did not disagree with the IPA report’s conclusions.
GAO provided a draft of its report to PCORI and PCORI’s IPA for review and comment. In response, PCORI’s management and PCORI’s IPA had no comments in regard to the report.