The Federal Housing Finance Agency (FHFA) today released its annual Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2022.
For the fourteenth consecutive year, FHFA received an unmodified audit opinion on its FY 2022 financial statements from the U.S. Government Accountability Office (GAO). Included in the unmodified opinion, GAO noted no material weaknesses or significant deficiencies in FHFA’s internal controls. GAO also found no instances of reportable noncompliance with the applicable laws and regulations it tested.
FHFA prepares its annual financial statements in accordance with U.S. Generally Accepted Accounting Principles as specified by the Federal Accounting Standards Advisory Board for federal government entities. GAO performs an independent audit of FHFA’s consolidated and combined financial statements in accordance with the Housing and Economic Recovery Act of 2008.
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