The Washington Convention and Sports Authority announced today that the audit firm of KPMG reported to the organization’s Board of the Directors that the Authority received an unqualified opinion or clean audit on their financial statements for the fiscal year ending September 30, 2010. FY 2010 represented the first year of operations for the new entity formed when the Washington Convention Center Authority merged with the DC Sports and Entertainment Commission.
“This is our first year with KPMG as our outside auditor and their audit process was comprehensive and thorough,” said Gregory A. O’Dell, WCSA president and chief executive officer. “The Authority’s Board was very pleased with the consistency of the superior performance of our financial management operation.”
KPMG also reported that it had reviewed all internal controls over financial reporting for the new entity and found no deficiencies. Further, KPMG did not propose any adjustments to the Authority’s 2010 financial statements.
The Authority owns and manages the Walter E. Washington Convention Center, an anchor of the District’s hospitality and tourism economy that generates over $400 million annually in total economic impact for the city.
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