Metropolitan Transportation Authority

TLDR: In this article, the audit committee and management of the Metropolitan Transportation Authority (MTA) considered the internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the MTA's internal control of financial reporting.

Abstract: Dear Members of the Audit Committee and Management: In planning and performing our audits of the consolidated financial statements of the Metropolitan Transportation Authority and of the financial statements of the First Mutual Transportation Assurance Transit Operating Authority and the Triborough Bridge and Tunnel Authority (collectively the " MTA ") as of and for the year ended December 31, 2011 (on which we have issued our reports dated May 2, 2012 with the exception of the New York City Transit Authority and Staten Island Rapid Transit Operating Authority.), in accordance with auditing standards generally accepted in the United States of America, we considered the MTA's internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the MTA's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the MTA's internal control over financial reporting. Our consideration of internal control over financial reporting was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control over financial reporting. However, in connection with our audits, we have identified, and included in the attached Appendix A, deficiencies related to the MTA's internal control over financial reporting as of December 31, 2011, that we wish to bring to your attention. We have also issued a separate report to the Audit Committee, dated April 25, 2012, which included a certain matter involving the Staten Island Rapid Transit Operating Authority's internal control over financial reporting that we consider to be a material weakness under standards established by the American Institute of Certified Public Accountants. The definition of a deficiency is also set forth in the attached Appendix B.Although we have included management's written response to our comments in the attached Appendix A, such responses have not been subjected to the auditing procedures applied in our audits and, accordingly, we do not express an opinion or provide any form of assurance on the appropriateness of the responses or the effectiveness of any corrective actions described therein. This report is intended solely for the information and use of management, the Audit Committee, and others within the organization and is not intended to be, and should not be, used by anyone other than these specified parties.