ANNUAL AUDIT PLAN FOR 2025

Our planned audits for 2025 primarily focus on major capital programs with an emphasis on those funded by the Infrastructure Investment and Jobs Act (IIJA). To date, our capital oversight portfolio includes projects exceeding $40 billion, including several receiving IIJA funds. For example, we are currently reviewing the $16 billion Hudson Tunnel project and the company’s $5 billion effort to upgrade its maintenance facilities. Meanwhile, our ongoing work on high-risk operating challenges includes assessing the company's actions to prevent injuries and deaths from trespasser and vehicle strikes, and its efforts to meet the customer service needs of passengers with disabilities.

In 2025, we plan to review the company’s $2.7 billion replacement project for the Susquehanna River Bridge in Maryland and its $1.6 billion program to rehabilitate the East River Tunnel in New York. We also plan to assess several cross-cutting governance issues inherent to the capital planning process, including how the company manages project schedules, estimates labor needs, and coordinates track outages for projects along the Northeast Corridor. Our planned audits of operating challenges include the company's efforts to mitigate cybersecurity risks posed by third parties, its effectiveness in communicating with passengers, and its plans to modernize its information systems.

Throughout the year, we may adjust our work as new challenges arise or priorities change to ensure we are covering the most relevant and timely issues.