FY 2019 audit: Auditors gave MISSA another A+ rating

In its FY 2019 audit report dated June 16, 2020, Deloitte & Touche LLP gave MISSA’s financial statements another “unqualified opinion”. From a layman’s perspective, an unqualified opinion is an independent auditor’s judgment that a company’s financial statements are fairly and appropriately presented, without any identified exceptions, and in compliance with generally accepted accounting principles (GAAP).

MISSA’s system of internal control over financial reporting and on its compliance with certain provisions of laws, regulations, contracts and grant agreements, was likewise given another clean bill of health. This simply means that the auditors determined that MISSA has adequate management controls in place for administering the RMI Retirement Fund and did not identify significant reportable issues that may be construed as questionable costs, over-spending or accountability concerns.

MISSA has received “No Findings” audit report in the last 18 years since 2001. In FY 2017, the auditors identified one reportable condition which had been addressed already and control mechanisms are now in place to prevent its recurrence.The Administration recognizes the group efforts of its managers and staff who contributed in their own ways in the success of the FY 2019 audit. Special credit is given to MISSA’s Finance Department headed by Amelia Timon, Finance Manager and her staff, Lonia Kaiko, Johnsay Latdrik and Priscilla Joab, who have spent countless hours to complete the audit requirements on time. MISSA’s Claims and Benefit Division also did a commendable job in ensuring that the calculation of benefits were done correctly and claims were approved in accordance with the provisions of the MISSA law. The Claims and Benefits Division is comprised of Bill Joseph, Deputy Administrator & COO, Brad Lamille, Velma Kisino, and three more support staff.