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	Cover Letter Summary of Results Background Audit Objective Report on USAID's Financial Statements Report on Internal Control Accruals Reporting System Process for Reconciling Fund Balance with the U.S. Treasury Intragovernmental Transactions Controls Over Treasury Symbols Need Improvement Process for Accumulating Foreign Currency Information Support/Quality of Data Used in the MD&A Need Improvement Report on Compliance with Laws and Regulations Account De-obligation and Closing Processes Need Improvement Lease Obligation Antideficiency Act Violations Evaluation of Management Comments Appendix I - Scope and Methodology Appendix II - Management Comments Appendix III - Status of Prior Year Findings and Recommendations
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Independent Auditor's Report – Summary of Results

In our opinion, USAID’s consolidated balance sheets, consolidated statements of changes in net position, consolidated statements of net cost, combined statements of budgetary resources, and consolidated statements of financing present fairly, in all material respects, the financial position of USAID as of September 30, 2006 and 2005; and its net cost, net position, and budgetary resources for the years then ended are in conformity with generally accepted accounting principles.

Our audit identified one material internal control weakness and five reportable conditions. The material internal control weakness relates to USAID’s accounting and reporting of accruals.

The reportable conditions relate to USAID’s:

• Reconciliations of its fund balance with the U.S. Treasury
• Intragovernmental reconciliations
• Controls over Treasury symbols
• Accounting for foreign currency transactions
• Management’s Discussion and Analysis data

The results of our tests indicate that USAID substantially complied with Federal financial management systems requirements, accounting standards, and the U.S. Standard General Ledger at the transaction level, as required by Section 803(a) of the Federal Financial Management Improvement Act. Our report on compliance identifies areas for improvement over several financial system processes, not affecting substantial compliance, and two Antideficiency Act violations.

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