GLS Financial Statement Audit Initiated for FY 2026 and 2025
Summary
The DOT Office of Inspector General has initiated a mandated financial statement audit of the Great Lakes St. Lawrence Seaway Development Corporation (GLS) for fiscal years 2026 and 2025. The audit will be conducted by Allmond & Company, LLC under OIG oversight, in accordance with the Government Corporation Control Act of 1945 and the Chief Financial Officers Act of 1990. The audit report is due November 16, 2026.
What changed
DOT OIG is initiating a financial statement audit of GLS for FY 2026 and 2025, mandated by the Government Corporation Control Act of 1945 and the Chief Financial Officers Act of 1990. The objective is to express an opinion on whether GLS's financial statements are fairly presented in conformity with GAAP. Allmond & Company will conduct the work subject to OIG oversight at GLS headquarters in Washington, D.C. and operational offices in Massena, NY.
GLS management should prepare to provide financial records and cooperate with the independent auditors. The audit report must be delivered to OMB, the Department of the Treasury, Congress, and GAO by November 16, 2026. This is a routine mandated audit with no new compliance obligations imposed on GLS beyond existing financial reporting requirements.
Source document (simplified)
New Audit Announcements
Date
March 31, 2026
Audit Initiated of GLS’s Financial Statements for Fiscal Years 2026 and 2025
Origin Mandated by the Government Corporation Control Act of 1945 and the Chief Financial Officers Act of 1990 Project ID 26F3011F000 File Attachment View PDF Document In accordance with the Government Corporation Control Act of 1945 and the Chief Financial Officers Act of 1990, as amended, we are initiating an audit of the Great Lakes St. Lawrence Seaway Development Corporation’s (GLS) financial statements for fiscal years 2026 and 2025. The objective of this audit will be to express an opinion on whether GLS’s financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States. We have engaged Allmond & Company, LLC (Allmond), an independent public accounting firm, to conduct this audit subject to our oversight.
Allmond will conduct its work in accordance with generally accepted Government auditing standards and the Office of Management and Budget’s (OMB) Bulletin 24-02, Audit Requirements for Federal Financial Statements. Allmond will conduct its work at GLS Headquarters in Washington, D.C., and operational offices in Massena, NY. The audit report is due to OMB, the Department of the Treasury, Congress, and the Government Accountability Office by November 16, 2026.
Related Library Items
02.23.26
01.13.26
03.31.25
11.13.24
03.12.24
01.30.24
11.13.23
03.21.23
11.15.22
03.01.22
Audit Initiated of the Great Lakes Saint Lawrence Seaway Development Corporation’s Financial Statements for Fiscal Years 2022 and 2021
- Show More
Named provisions
Related changes
Source
Classification
Who this affects
Taxonomy
Browse Categories
Get Transportation alerts
Weekly digest. AI-summarized, no noise.
Free. Unsubscribe anytime.
Get alerts for this source
We'll email you when DOT OIG Reports publishes new changes.