The Postal Service continues to meet the voluminous reporting requirements of the Postal Rate Commission, Congress, the Government Accountability Office, the federal Office of Personnel Management, and the Office of Management and Budget.

In directing the conduct of the 2005 financial statement audit, the Committee met with Ernst & Young, LLP, and concurred with the scope and materiality levels they established in their work plan for the task. The Committee met jointly and independently with Ernst & Young, LLP, the Inspector General, management and the General Counsel to discuss the progress of the audit and ensure independence and objectivity in the audit programs.

Accordingly, the Committee recommended, and the Board approved, the financial statements for 2005.

Robert F. Rider
Chairman, Audit and Finance Committee
December 6, 2005

The Postal Service continues to meet the voluminous reporting requirements of the Postal Rate Commission, Congress, the Government Accountability Office, the federal Office of Personnel Management, and the Office of Management and Budget.