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“This clean opinion is a direct result of ... Strodel’s ability to restore the House’s good financial standing through the successful implementation of a comprehensive internal controls program and a new financial management system,” reads a “Dear Colleague” letter signed by Reps. Dan Lungren (R-Calif.) and Robert Brady (D-Pa.), chairman and ranking member of the House Administration Committee.
In fiscal 2011, the CAO contracted the public accounting firm Cotton and Co. to audit House financial statements.
Though the firm’s report is positive overall, it did find two “significant deficiencies” in the House’s financial management.
The House is not, according to Cotton and Co., doing consistent record-keeping to ensure correct reporting of expenditures and transactions. Nor has the House implemented a process to ensure that the chamber’s information technology system is secure against “risks.”
Still, the firm stresses that it does not consider these deficiencies to be “material weaknesses.”
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