OPM Posts its FY 2018 Agency Financial Report

OPM posted its FY 2018 Agency Financial Report today. OPM's external auditor Grant Thornton gave OPM a clean opinion on its agency financial statements. However Grant Thornton did identify a material weakness in internal controls which should come as no surprise in view of GAO report discussed in Tuesday's Tidbits.

In FY 2018, OPM’s independent auditor reported deficiencies in various aspects of OPM’s information system control environment, including in the areas of security management, logical and physical access controls, and configuration management. Due to the continued existence of these deficiencies, they continue to be reported collectively as a material weakness in OPM’s internal control over financial reporting by the independent auditor.
OPM concurs with the independent auditor’s assessment. Notwithstanding the progress that has been made to mature the OCIO organization and enhance the information system control environment, OPM will continue to actively develop and implement appropriate, risk-based, cost effective corrective plans.

Page 23. Narrative discussions about the FEHBP can be found at pages 100-106, 114, 116, and 123-126.