Enclosed is the final audit report on the Millennium Challenge Corporation’s (MCC’s) financial statements for fiscal year 2025. The Office of Inspector General (OIG) contracted with the independent certified public accounting firm of RMA Associates LLC (RMA) to conduct the audit. The contract required the audit firm to perform the audit in accordance with generally accepted government auditing standards and Office of Management and Budget Bulletin No. 24-02, Audit Requirements for Federal Financial Statements, as applicable to independent public accountants.
In carrying out its oversight responsibilities, OIG reviewed the audit firm’s report and related audit documentation and inquired of its representatives. Our review, which was different from an audit performed in accordance with generally accepted government auditing standards, was not intended to enable us to express, and we do not express, an opinion on MCC’s financial statements. The audit firm is responsible for the enclosed auditor’s report and the conclusions expressed in it. Based on our review, we found no instances in which RMA failed to comply, in all material respects, with applicable standards.
The audit objectives were to (1) express an opinion on whether MCC’s financial statements as of September 30, 2025, were presented fairly, in all material respects; (2) evaluate MCC’s internal controls over financial reporting; and (3) determine whether MCC complied with applicable laws, regulations, contracts, and grant agreements. To answer the audit objectives, the audit firm assessed risk, considered internal controls, and designed audit procedures relevant to MCC’s fair presentation of its 2025 financial statements.
The audit firm concluded that MCC’s financial statements for the fiscal year ending September 30, 2025, are presented fairly, in all material respects, and in accordance with accounting principles generally accepted in the United States of America. Further, the audit firm found no material weaknesses in internal control over financial reporting based on the procedures performed, and no reportable noncompliance with applicable laws, regulations, contracts, and grant agreements.