Office of the Legislative Auditor - Financial Audit Division
Report Summary Teachers Retirement Association
Financial Statement Audit
Financial Audit Division Report 11-03
Released February 18, 2011
The Teachers Retirement Association’s (TRA) financial statements were fairly presented in all material respects. However, TRA had some weaknesses in internal control over financial reporting, as noted below.
TRA did not accurately report derivatives in its draft financial statement footnote disclosures.
TRA did not have sufficient controls to ensure that it had accurate date of birth data for its members.
We audited TRA’s basic financial statements for the fiscal year ended June 30, 2010.