A Financial Audit
A Report on the Audit of the Teacher Retirement System's Fiscal Year 2019 Financial Statements
December 2019
Summary Analysis
In our audit report dated November 20, 2019, we concluded that the Teacher Retirement System’s (the System) basic financial statements for fiscal year 2019 were materially correct and presented in accordance with accounting principles generally accepted in the United States of America. The System published our audit report as part of its basic financial statements, which it has posted on its Web site at https://www.trs.texas.gov/TRS%20Documents/cafr_2019.pdf.
We also issued a report on internal control over financial reporting and on compliance and other matters as required by auditing standards (that report, including responses from management, is presented in the attachment to this letter). In that report, auditors determined that the System should strengthen controls over active employee census data submitted through the Teacher Retirement Unified System for Technology (TRUST) to help ensure that the data is complete and accurate.
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The Teacher Retirement System (System) should strengthen controls over active employee census data submitted through the Teacher Retirement Unified System for Technology (TRUST) to help ensure that data is complete and accurate.