Financial Audits

CDA 2014 and 2013 Financial Audit

Summary


CDA FISCAL YEARS 2014 and 2013 FINANCIAL STATEMENTS ARE FAIRLY PRESENTED

(The following summary is based on the independent auditor’s report prepared by Deloitte and Touche LLC and does not constitute an audit report.  Please visit OPA’s website for the full audit report.)

The independent auditor (Auditor) reported that the Commonwealth Development Authority’s (CDA) financial statements for the fiscal years 2014 and 2013 are fairly presented.  The Auditor did not identify any weaknesses in CDA’s internal controls or instances of noncompliance with laws, regulations, contracts, and grant agreements that may affect its financial statements.  CDA has consistently maintained clean opinions on its financial statements. 

BACKGROUND

CDA was established as an autonomous agency through Public Law 4-49 in 1985.  CDA’s mission is “to provide appropriate financial and technical assistance to facilitate the start-up or expansion of private and public enterprises for their success, the benefit of the CNMI's economic welfare and the long-term sustainability of CDA”.  CDA delivers financial and technical assistance by providing loans and loan guarantees to the government and the public sector through its Development Banking Division, and engages in private sector activities through its Development Corporation Division.  The Northern Marianas Housing Corporation, formerly the Marianas Islands Housing Authority, was established as a division of CDA in 1994.  NMHC provides affordable homeownership through various financial assistance programs.  CDA serves as a development bank to promote economic growth and development within the Northern Mariana Islands.

Financial Statements, Additional Information and Independent Auditors' Report-View

Independent Auditors' Reports on Internal Control and Compliance-View
 

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Last Updated 6/30/2015 3:21:53 PM