Ernst and Young LLP conducted an audit on FedEx Corporation’s internal control over financial reporting in accordance with standards of the Public Company Accounting Oversight Board of the United States. In E&Y’s opinion, FedEx maintained, in all material respects, effective internal control over their financial reporting for the period ending May 31, 2016. This assessment does not include the internal controls of TNT Express, which is consolidated into the financial statements of FedEx and constitutes 16% of its total assets.
The annual report, as mentioned by the auditor, states that the internal control of financial reporting* did not include the internal controls of TNT Express, even though FedEx has already acquired them in 2015. The entire audit might not have prevented or detected any form of misstatements, due to the inherent limitations of an internal control over financial reporting. Lastly, the auditors audited the company in accordance with the standards of the Public Company Accounting Oversight Board (US).  
Based on the the COSO criteria, FedEx Corporation maintained an effective internal control over their financial reporting as of May 31, 2016.
Fedex has been maintained effective internal control based on COSO criteria. However, the internal control of subsidiary TNT Express, which consists of about 16% of consolidated total assets was excluded from the audit of internal control over financial reporting.
The opinion of auditor Ernest + Young is that financial statements were all presented fairly and in accordance with standards of the Public Company Accounting Oversight Board (United States) after examining evidence supporting the amounts and disclosures in the financial statements.  
The audits is done in accordance with the standards of the Public Company Accounting Oversight Board (United States), so that there is a fair and reasonable standard with little room for misleading statements.
FedEx’s financial statements are free of material misstatement and is conformed with US generally accepted accounting principles since it’s an unqualified opinion.
The auditor’s report states that the accounts for FedEx have been audited according to standard practice of the Public Accounting Company Oversight Board and all the statements that were made in the report accurately depict the financial position of FedEx.
The auditing firm Ernst & Young declared that they audited FedEx’s financial statements in accordance to the standards of the Public Company Accounting Oversight Board (United States), and have concluded that the financial statements are presented fairly.
Ernst and Young LLP have audited the balance sheets of FedEx Corporation as of May 31, 2016 and 2015, and other financial statements for each of the three years. They have conducted audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).
The financial statements are the responsibility of the company’s management and the audits is made in accordance to the Public Company Oversight Board (US) where the financial statements are free from material misstatement. The audit complies with the standard and is presented fairly.
The auditor, Ernst & Young, has given an unqualified opinion, indicating that it has evaluated FedEx’s financial statements and records and found that they comply to the COSO criteria (the 2013 framework defined by the Committee of Sponsoring Organizations of the Treadway Commission) and the standards as laid out by the Public Company Accounting Oversight Board (United States). However, neither FedEx nor Ernst & Young has evaluated the internal controls over financial reporting of TNT Express.
An auditor from Ernst and Young LLP did an audit of financial statements between period ending or on May 31, 2016 of FedEx Corporation according to standards of the Public Company Accounting Oversight Board (United States) and found that the materials FedEx submitted, was in conformity with U.S. generally accepted accounting principles. 
The auditor also found that FedEx Corporation’s internal control over their financial reporting as of May 31, 2016 is in accordance to Internal Control–Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework)
The consolidated financial statements, balance sheet and statement of changes in equity of the Company are in accordance with the provisions of the Singapore Companies Act and Singapore Financial Reporting Standards. Accounting and other records required by the Singapore Companies Act have been properly kept in accordance. 
It is to declare that auditing is done for Breaktalk Group Limited and a brief summary of what is included in this report after auditing.
Audit is conducted with an evaluation of internal control over financial reporting in accordance with the Public Company Accounting Oversight Board. However, evaluation was not conducted over the internal controls of TNT Express
Fedex Corporation’s Financial statements of the consolidated financial position at May 31, 2016 & 2015 and consolidated results of operations and cash flows for each of the three years in the period ended May 31, 2016 were found to be fairly presented with U.S. generally accepted accounting principles. In accordance with the standards of the Public Company Accounting Oversight Board (US), Fedex Corporation’s internal control over financial reporting as of May 31, 2016 are fairly and appropriately presented as well.
The auditors are satisfied that FedEx has in all material aspects, maintained effective internal control over financial reporting in accordance with the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework).
The auditors are of the view that FedEx provided a true and fair view and in accordance with the standards of the Public Company Accounting Oversight Board (United States) on its financial statements.
The auditor states the financial statements are the responsibility of the FedEx’s management. After carrying out audits based upon the standards of the Public Company Accounting Oversight Board (United States), they have found that these financial statements are presented without misrepresentation, in accordance to U.S. generally accepted accounting principles.
FedEx Corporation maintained in all material respect, effective internal control over financial reporting as of May 31, 2016 based on COSO criteria. And the auditor expresses an unqualified opinion of FedEX Corporation in his report.
The responsibility of the auditing firm is to express an opinion on the published financial statements with respect to their faithful representation of facts and the accounting principles used. Based on their examination based on testing assumptions and evidence, the financial statements from FedEx were deemed to have presented FedEx’s financial state fairly in accordance with US GAAP (generally accepted accounting principles) and their internal accounting process were acceptable based on established rules.
The financial statements provided by FedEx is a fair representation of the consolidated financial position of FedEx as it is in conformity with U.S. generally accepted accounting principles and in accordance with the standards of the Public Company Accounting Oversight Board (United States). It is also audited based on criteria established in Internal Control–Integrated Framework issued by
the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and the auditor’s opinion (FedEx having provided a fair representation of their financial position) should not be considered/is not binding after July 18, 2016, the date when the report was finalized and published.
The overall accounting records are correct in accordance with the standards of Public Company Accounting Oversight Board (US), where it is free of misstatement.
The financial statements are free of material misstatement and present fairly, in all material respects, the consolidated financial position of FedEx Corporation from May 31 2015 to May 31 2016. 
EY’s auditing firm conducted their audit on the company’s internal control over financial reporting in accordance with the standard of the Public Company Accounting Oversight Board to provide a comprehensive assessment which also reflects their opinion. And their opinon on FedEx Corp. shows that the company maintained effective internal control over financial reporting as of May 31,2016.
Our report expresses an unqualified opinion that FedEx Corporation maintained an effective internal control over financial reporting as of May 31, 2016, based on the COSO criteria.
Ernst and Young LLP have audited the balance sheets of FedEx Corporation as of May 31, 2016, and 2015, and other financial statements for each of the three years. The audits are in accordance with the standards of the Public Company Accounting Oversight Board (United States).
The financial statements give a true and fair view of the state of FedEx Corporation as of May 31, 2016 and have been properly prepared in accordance of the Public Company Accounting Oversight Board (United States).