Oversight of the Audit of the FY 2026 U.S. Transportation Command Transportation Working Capital Fund Financial Statements (Project No. D2026-D000FS-0045.000)

Oversight of the Audit of the FY 2026 U.S. Transportation Command Transportation Working Capital Fund Financial Statements (Project No. D2026-D000FS-0045.000)

Audit

The purpose of this memorandum is to inform you of our planned oversight that will begin immediately. The Under Secretary of Defense (Comptroller)/Chief Financial Officer, DoD, requested the audit of U.S. Transportation Command Transportation Working Capital Fund Financial Statements. We contracted with the independent public accounting firm of Sikich CPA LLC (Sikich) to audit the U.S. Transportation Command Transportation Working Capital Fund Financial Statements as of and for the fiscal year ending September 30, 2026. The objective of Sikich's audit is to determine whether the FY 2026 U.S. Transportation Command Transportation Working Capital Fund Financial Statements and related notes are presented fairly and in conformity with accounting principles generally accepted in the United States of America. The objective of our project is to provide contract oversight of Sikich's audit and determine whether Sikich complied with the contract and generally accepted government auditing standards.

We will rely on the Government Accountability Office/Council of the Inspectors General on Integrity and Efficiency, "Financial Audit Manual," Volume 2, June 2024, Section 670, "IG Oversight of Audits Performed by Contracted Independent Public Accounting (IPA) Firms," to design and perform oversight procedures to review Sikich's audit work and, if applicable, disclose instances in which Sikich did not comply, in all material respects, with generally accepted government auditing standards. Our review will not enable us to express an opinion on the U.S. Transportation Command Transportation Working Capital Fund Financial Statements or draw conclusions about the effectiveness of internal control, whether the financial management systems substantially complied with the Federal Financial Management Improvement Act of 1996, or on the U.S. Transportation Command Transportation Working Capital Fund's compliance with laws and regulations. We will provide oversight and review Sikich's audit work, but Sikich will be responsible for expressing the opinion on the financial statements and related notes.

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