The Federal Trade Commission (FTC) recently unveiled its Fiscal Year 2023 Agency Financial Report, spotlighting the agency’s accomplishments in safeguarding consumers and fostering competition. The report also reemphasizes the FTC’s dedication to responsible resource management and robust financial operations.
As mandated by the Office of Management and Budget, the report includes yearly audited financial statements and an assessment from the Office of the Inspector General on the FTC’s key management achievements and potential areas for performance enhancements. Significantly, the FTC’s independent financial statement audit for FY 2023 marks the agency’s 27th consecutive unmodified opinion, reflecting the highest achievable audit opinion.
In keeping with legal requirements under the Chief Financial Officers Act of 1990, the Government Management Reform Act of 1994, the Accountability of Tax Dollars Act of 2002, and the Annual Management Reports under Chapter 91 of title 31, United States Code, the report is being submitted to Congress and the Director of the Office of Management and Budget.
The FTC, created in 1914, has continually strived to protect consumers from unfair and deceptive conduct by businesses and promote competition in the marketplace. With a budget of $430 million in FY 2023, the FTC has focused on delivering results to American consumers and businesses, ensuring fair market practices, and maintaining fiscal responsibility.
Randall Salzer in the FTC’s Financial Management Office has been identified as the staff contact for the report.
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