The Patient-Centered Outcomes Research Institute is a federally funded, nonprofit corporation that was established to fund and evaluate research aimed at helping patients, doctors, and policymakers make better health care decisions.
PCORI is required to have its financial statements audited annually, and we're required to review those audits. PCORI's auditor issued an unmodified (clean) opinion on its fiscal year 2019 financial statements, concluding that these fairly presented PCORI's financial position and activities.
We reviewed certain aspects of this financial audit and found no significant issues requiring attention.
What GAO Found
Why GAO Did This Study
This report presents the results of GAO's review of PCORI's fiscal year 2019 financial statement audit. PCORI was created in 2010 by the Patient Protection and Affordable Care Act (PPACA) as a federally funded, nonprofit corporation that is neither an agency nor establishment of the United States government. According to PPACA, PCORI's purpose is to assist patients, clinicians, purchasers, and policymakers in making informed health decisions by advancing the quality and relevance of evidence concerning the manner in which diseases, disorders, and other health conditions can effectively and appropriately be prevented, diagnosed, treated, monitored, and managed through research and evidence synthesis. PPACA requires PCORI to obtain an annual financial statement audit from a private entity with expertise in conducting financial audits. PPACA also requires the Comptroller General of the United States to annually review the audit of PCORI's financial statements and report the results to the Congress. GAO's objective was to review the financial audit of PCORI's fiscal year 2019 financial statements. To satisfy this objective, GAO performed the following procedures: (1) read and considered various documents relating to the IPA's independence, objectivity, and qualifications; (2) analyzed key IPA audit documentation; (3) read PCORI's fiscal years 2019 and 2018 financial statements, the IPA's audit report on the financial statements, and the IPA's report on internal control over financial reporting and compliance; and (4) met with IPA representatives and PCORI management officials.
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