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COLUMBUS � KPMG, the firm contracted to independently audit the Ohio Police & Fire Pension Fund, announced it has postponed its opinion on OP&F's fiscal year 2003 audit until additional information from an ongoing Ohio Ethics Commission investigation is available. KPMG representatives informed the OP&F Board of Trustees of the decision during a regularly scheduled Administration and Audit Committee meeting this morning.
Despite the delay, KPMG informed OP&F that all financial and accounting tests have been conducted and results show that records at the organization are in order and are in compliance with general accounting standards and practices. The annual audit was scheduled for completion by the end of June.
"The audit has concluded that our assets and accounting practices are in order," said William J. Estabrook, OP&F Executive Director. "It is imperative to acknowledge these results and express that our financial status and assets are strong and accounted for."
OP&F continues to cooperate with any requests from KPMG as they work to complete the audit and release an opinion.
The Government Finance Officers Association has presented OP&F its Certificate of Achievement for Excellence in Financial Reporting for 15 consecutive years, reflecting the commitment of OP&F to meet the highest principles of governmental budgeting. GFOA is a nonprofit professional association serving 14,000 government finance professionals in the United States and Canada.
Created in 1965 as a result of an act passed by the Ohio General Assembly, OP&F is a multi-employer pension fund serving more than 52,000 members. OP&F is one of five statewide retirement systems and provides pension, disability, survivor, and health care benefits to eligible full-time police officers and firefighters in the state of Ohio.
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