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Table of Contents
Part I: Management’s Discussion and Analysis
A Message from the Chairman.....................................3About the Report................................................5About the FTC..................................................5Strategic Goals and Objectives....................................10Program Performance Overview...................................12Ongoing and Future Challenges...................................20Significant Program Events.......................................23Financial Performance Overview...................................27Systems and Control............................................28
Part II: Program Performance
Goal 1: Protect Consumers.......................................29Goal 2: Maintain Competition..................................... 41
Part III: Audited Financial Statements
Message from the Chief Financial Officer............................ 58Limitations of the Financial Statements..............................59Audit of FTC’s 2004 Principal Statements............................59Financial Resources and Results of Operations.......................59Custodial Activity...............................................62Office of Inspector General Opinion Letter............................63Office of Inspector General Top Management Challenges of the FTC......67FTC Financial Statements for Fiscal Year End 2004....................70Notes to the Financial Statements..................................80
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