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9. Verification and Validation
The Postal Service is subject to a number of reviews and audits of systems and processes. Financial statements are reviewed annually by Ernst and Young, LLP, an independent certified public accounting firm hired by the Board of Governors.
During the year, the Office of the Inspector General (OIG) conducts financial and internal control systems and operating processes.7 During the last six months, the OIG conducted 26 performance reviews, 201 financial reviews and investigations, 20 technology reviews and 85 labor management reviews and investigations.
The Postal Service also is subject to reviews from the General Accounting Office (GAO), acting in support of Congressional oversight. In 2001, the GAO conducted six major reviews:
- Postal Service: Information on Retirement Plans,
GAO-02-170, December, 2001
- Postal Service: Update on E-Commerce Activities and Privacy Protections,
GAO-02-79, December 28, 2001
- Postal Service: Few Craft Employees Earned More Than Their Postmasters, But Adequacy and Reasonableness of Pay Differences Remain Unclear,
GAO-10-1025, Sept.13, 2001
- Postal Service: Financial Outlook and Transformation Challenges,
GAO-01-733T, May 15, 2001
- Postal Service: Transformation Challenges Present Significant Risks,
GAO-01-598T, April 4, 2001
- Major Management Challenges and Program Risks: Postal Service,
GAO-01-262, January 1, 2001
Postal Service revenues and costs are subject to intensive scrutiny through the Postal Rate Commission and the rate regulation process.
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