FTC Issues Agency Financial Report for Fiscal Year 2020
November 16, 2020
The Federal Trade Commission issued its Fiscal Year 2020 Agency Financial Report, which describes the agency’s strong fiscal management and key program performance during the past year. The report highlights the FTC’s accomplishments in furtherance of its missions to protect consumers and promote competition, and reaffirms the agency’s commitment to responsible stewardship of resources and sound financial operations.
Prepared in accordance with OMB Circular A-136, this report includes annual audited financial statements, as well as the Office of the Inspector General’s assessment of the FTC’s key management accomplishments and opportunities for performance improvements. The FTC’s FY 2020 independent financial statement audit marks the agency’s 24th consecutive unmodified opinion, the highest audit opinion available.
The report is being submitted to Congress and the Director of the Office of Management and Budget, as required under the Chief Financial Officers Act of 1990 (amended by the Reports Consolidation Act of 2000), the Government Management Reform Act of 1994, the Accountability of Tax Dollars Act of 2002, and the Annual Management Reports under the Government Corporations Control Act.
The Commission vote to release the Agency Mission Challenges section of the report was 5-0 (FTC File No. P859900).
The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and report scams, fraud, and bad business practices online at ReportFraud.ftc.gov. Like the FTC on Facebook(link is external), follow us on Twitter(link is external), read our blogs and subscribe to press releases for the latest FTC news and resources.
Betsy Lordan(link sends e-mail)
Office of Public Affairs
Chief Financial Officer