Below is a list of some of our recently announced audit projects. If you have knowledge or experience related to any of the topics, we encourage you to get in touch with us via the link provided in the project description.

Start Date:
Friday, July 22, 2022
Estimated Report Release Date:
September, 2022

Investments and Interest Rate Risk

The Postal Service invests its excess cash, when available, in highly liquid, short-term investments issued by the U.S. Treasury. Given that the investments are short-term, they provide limited returns to the Postal Service. Treasury has the sole authority to select the investments for Postal Service’s excess cash. Our objective is to assess the Postal Service's investment of its cash balances and identify opportunities to improve investment and borrowing strategies and to reduce interest rate risk. Our scope will include national economic trends, investment rate modeling, and the Postal Service’s investment and borrowing policies and practices.

 2022 Selected Financial Activities and Accounting Records
Start Date:
Wednesday, July 6, 2022
Estimated Report Release Date:
December, 2022

FY 2022 Selected Financial Activities and Accounting Records

The Selected Financial Activities and Accounting Records audit supports the Independent Public Accounting (IPA) firm’s integrated audits of the Postal Service's financial statements and internal controls over financial reporting through re-performance of selected financial controls tests and independent testing as agreed upon with the IPA. Our objectives are to determine whether the Postal Service: 

  • Fairly stated accounting transactions in the general ledger and whether selected controls surrounding those transactions were designed and operating effectively.
  • Properly tested, documented, and reported its examination of selected key financial reporting controls related to Postal Service Headquarters and the Accounting Service Centers. 
     
Start Date:
Friday, June 24, 2022
Estimated Report Release Date:
December, 2022

Distribution of Repair and Maintenance Resources

The Postal Service owns over 8,400 and leases over 23,000 properties ranging in size from 273 square feet to 32 acres. This includes retail facilities in communities of all income levels across the nation. As part of the 10-year Delivering for America plan, the Postal Service plans to invest in these facilities as well as refresh the customer lobbies. 
Our objectives are to (1) examine the distribution of resources for maintenance and repairs at retail facilities in lower and higher-income communities and (2) assess the impact of the Delivering for America plan on these communities. Congress requested that we perform this audit and include an analysis of the ratio of retail facilities to population in high-income versus low-income communities.
 

Start Date:
Wednesday, June 1, 2022
Estimated Report Release Date:
September, 2022

Compensation, Benefit, and Bonus Authority in Calendar Year 2021

The Postal Accountability and Enhancement Act of 2006 (PAEA) amended portions of Title 39 of the U.S. Code regarding compensation limits for Postal Service employees. It limited total annual compensation to the U.S. Government Executive Schedule level 1 rate with exceptions that allow for compensation to exceed this rate for certain critical positions or as the result of a bonus or other reward. Our objective is to determine whether the U.S. Postal Service complied with applicable maximum total annual compensation provisions of the PAEA and related Postal Service policies and guidelines for calendar year 2021. 
 

Start Date:
Thursday, May 26, 2022
Estimated Report Release Date:
September, 2022

Independent Report on Employee Benefits, Withholdings, Contributions, and Supplemental Semiannual Headcount Reporting Submitting to the U.S. Office of Personnel Management

The Office of Personnel Management (OPM) administers pension, health insurance, and life insurance benefits for federal agencies. Postal Service is responsible for withholdings and contributions reported in the Report of Withholdings and Contributions for Health Benefits, Life Insurance and Retirement; and the enrollment information reported on the Supplemental Semiannual Headcount Report. Our objective is to assist the OPM in assessing the reasonableness of retirement, health benefits, and life insurance withholdings and contributions as well as enrollment information submitted via the Semiannual Headcount Report by the Postal Service. This attestation engagement will apply agreed-upon procedures, which are the responsibility of OPM, from October 2021 through August 2022.

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