Page 1 GAO-25-107454 FHFA’s FY 2024 and FY 2023 Financial Statements
November 15, 2024
The Honorable Sherrod Brown
Chairman
The Honorable Tim Scott
Ranking Member
Committee on Banking, Housing, and Urban Affairs
United States Senate
The Honorable Patrick McHenry
Chairman
The Honorable Maxine Waters
Ranking Member
Committee on Financial Services
House of Representatives
Financial Audit: Federal Housing Finance Agency’s FY 2024 and FY 2023 Financial
Statements
This report transmits the GAO auditor’s report on the results of our audits of the fiscal years
2024 and 2023 financial statements of the Federal Housing Finance Agency (FHFA), which is
incorporated in the enclosed Federal Housing Finance Agency Performance and Accountability
Report for Fiscal Year 2024.
As discussed more fully in the auditor’s report that begins on page 69 of the enclosed agency
performance and accountability report, we found
• FHFA’s financial statements as of and for the fiscal years ended September 30, 2024, and
2023, are presented fairly, in all material respects, in accordance with U.S. generally
accepted accounting principles;
• although internal controls could be improved, FHFA’s internal control over financial reporting
was effective as of September 30, 2024; and
• no reportable noncompliance for fiscal year 2024 with provisions of applicable laws,
regulations, contracts, and grant agreements we tested.
