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The Office of Inspector General contracted with Clifton Gunderson LLP, an independent certified public accounting firm, to audit the financial statements of the Single-Employer and Multiemployer Program Funds administered by the Pension Benefit Guaranty Corporation (PBGC) as of and for the years ended September 30, 2008 and 2007 (AUD-2009-1/FA-08-49-1). As part of that audit, Clifton Gunderson also audited the PBGC Fiscal Year 2008 and 2007 Special-Purpose Financial Statements. The special-purpose financial statements and accompanying notes contained in the special-purpose closing package were prepared for the purpose of complying with the requirements of the U.S. Department of the Treasury’s Financial Manual (TFM) Volume I, Part 2, Chapter 4700 solely for the purpose of providing financial information to the U.S. Department of the Treasury and U.S. Government Accountability Office to use in preparing and auditing the Financial Report of the U.S. Government, and are not intended to be a complete presentation of PBGC’s financial statements.
In its audit of the PBGC Fiscal Year 2008 and 2007 Special-Purpose Financial Statements, Clifton Gunderson concluded that the special-purpose financial statements and accompanying notes presented fairly, in all material respects, the financial position of PBGC as of September 30, 2008 and 2007, and its net costs and changes in net position for the years then ended in conformity with accounting principles generally accepted in the United States of America and the presentation pursuant to the requirements of the TFM Chapter 4700. Clifton Gunderson LLP is responsible for the accompanying auditor’s report dated November 12, 2008, and the conclusions expressed in the report. The Office of Inspector General does not express opinions on PBGC’s financial statements.
Due to the nature of this report, it is not publically available.
The Office of Inspector General has determined that the report is for official use only. The report is intended solely for the information and use of PBGC’s Office of Inspector General, Board of Directors, management of PBGC, U.S. Department of the Treasury, U.S. Government Accountability Office, Office of Management and Budget, the United States Congress, and the President, and is not intended to be and should not be used by anyone other than these specified parties. Request for further distribution of this report should be made to the Office of Inspector General.
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