Message from the Audit and Finance Committee
The Audit and Finance Committee assists the full Board of Governors in fulfilling its fiduciary responsibilities. The Chairman of the Board selects the members of the Committee. This year the Committee, whose members included Governor Louis J. Giuliano, Governor Carolyn Lewis Gallagher, Governor Thurgood Marshall, Jr., Governor James C. Miller III, and I, met eight times.
The Committee’s primary responsibility is oversight of the integrity of Postal Service financial statements. The Committee reviews the soundness of internal accounting and control practices and major financial statement accounts involving management judgment. The certified public accounting firm responsible for the independent audit of Postal Service financial statements, Ernst & Young LLP, reports to the Board through the Committee. The Postal Inspector General reports to the Governors and is represented at all Committee meetings.