NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/
For the period ended May 31, 2026. Filed Jul 31, 2026.
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FY2026 · Filed Jul 31, 2026
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Item 14. Principal Accountant Fees and Services
CFC’s Audit Committee is solely responsible for the nomination, approval, compensation, evaluation and discharge of the independent public accountants. The independent registered public accountants report directly to the Audit Committee, and the Audit Committee is responsible for the resolution of disagreements between management and the independent registered public accountants. Consistent with SEC requirements, the Audit Committee has adopted a policy to pre-approve all audit and permissible non-audit services provided by the independent registered public accountants, provided such services do not impair the independent public accountant’s independence.
KPMG, LLP was our independent registered public accounting firm for the fiscal years ended May 31, 2026 and 2025. KPMG, LLP has advised the Audit Committee that they are independent accountants with respect to CFC, within the meaning of standards established by the Public Company Accounting Oversight Board and federal securities laws administered by the SEC. The following table displays the aggregate estimated or actual fees for professional services provided by KPMG, LLP in fiscal years 2026 and 2025, including fees for the 2026 and 2025 audits. All services for fiscal years 2026 and 2025 were pre-approved by the Audit Committee.
| Year Ended May 31, | ||
|---|---|---|
| (Dollars in thousands) | 2026 | 2025 |
| Description of fees: | ||
| Audit fees(1) | $2,135 | $2,083 |
| Audit-related fees(2) | 15 | 14 |
| Tax fees(3) | 125 | 91 |
| Total | $2,275 | $2,188 |
(1)Audit fees for fiscal years 2026 and 2025 consisted of fees for the quarterly reviews of our interim financial information and the audit of our annual consolidated financial statements. Audit fees also included fees for the preparation of the stand-alone financial statements for NCSC and Cooperative Securities. Audit fees for fiscal years 2026 and 2025 also included comfort letter fees and consents related to debt issuances and compliance work required by the independent auditors.
(2) Audit-related fees for fiscal years 2026 and 2025 consisted of fees for certain agreed-upon procedures.
(3)Tax fees consisted of assistance with matters related to tax compliance and consulting.
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