Annual Report

Each year, the Boston Fed (and the Federal Reserve System and the other Reserve Banks) publish audited financial statements as part of our overall accountability to Congress and the public. Among other information, these reports highlight the Bank’s overall financial results, including balances (as of December 31) and income and expenses for the year then ended.

2013 Annual Report

The Board of Governors engaged Deloitte & Touche LLP (D&T) to audit the 2013 combined and individual financial statements of the Reserve Banks and those of the consolidated LLC entities.[1] In 2013, D&T also conducted audits of internal controls over financial reporting for each of the Reserve Banks. Fees for D&T's services totaled $7 million, of which $1 million was for the audits of the consolidated LLC entities. To ensure auditor independence, the Board requires that D&T be independent in all matters relating to the audits. Specifically, D&T may not perform services for the Reserve Banks or others that would place it in a position of auditing its own work, making management decisions on behalf of the Reserve Banks, or in any other way impairing its audit independence.  In 2013, the Bank did not engage D&T for any non-audit services. 

[1] In addition, D&T audited the Office of Employee Benefits of the Federal Reserve System (OEB), the Retirement Plan for Employees of the Federal Reserve System (System Plan), and the Thrift Plan for Employees of the Federal Reserve System (Thrift Plan). The System Plan and the Thrift Plan provide retirement benefits to employees of the Board, the Federal Reserve Banks, and the OEB.

 

Archives (Annual Reports from 1989 onward)

Stay Connected

contacts email alert Twitter RSS podcasts careers faqs videos
Annual Reports Links