GAO Finds No Significant Issues in FY 2025 Audit of Congressional Award Foundation

The Government Accountability Office reviewed the independent public accountant's audit of the Congressional Award Foundation's fiscal year 2025 financial statements. Based on the limited procedures GAO performed, it did not identify any significant issues requiring attention.

The independent auditor issued an unmodified opinion for both fiscal years 2025 and 2024, concluding that the Foundation's financial statements were presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles. For FY 2025, the auditor found no material weaknesses in internal control over financial reporting and no instances of noncompliance that must be reported under U.S. generally accepted government auditing standards.

GAO's review was limited to assessing the audit's performance and did not constitute an opinion on the Foundation's financial statements, internal control effectiveness, or compliance with applicable laws, regulations, contracts, or grant agreements. The audit report and related documentation were provided to GAO for analysis.

The draft GAO report was shared with the Foundation and the auditor for comment. The Foundation's National Director and Audit Committee Chair replied that the organization continues to work on improving operations and internal controls over financial reporting. The auditor's Audit Principal indicated no comments on the GAO report.