The Temporary Corporate Credit Union Stabilization Fund's financial statements "present fairly, in all material respects,'' the fund's financial statement, according to an audit released late yesterday by the NCUA.
The technical term for the finding is that the auditor "expressed an unqualified [without reservations] opinion,'' about the presentation of the fund's numbers.
The audit, which was conducted by KPMG, also "did not identify any deficiencies in internal control over financial reporting that we consider material weakness.''
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