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This is
the twenty-third semiannual report to the Congress summarizing
the activities and accomplishments of the Pension Benefit
Guaranty Corporation (PBGC) Office of Inspector General (OIG)
for the period April 1, 2000 through September 30, 2000.
In
the audit area, we issued five (5) reports, including:
- management
letter report citing control weaknesses found during the
fiscal year 1998 Financial Statement audit;
- audit
of sensitive payments made to senior PBGC officials related
to travel, honoraria, gifts, and executive pay; and
- an
evaluation of PBGC's security policies and procedures.
In the
investigative area, we opened ten (10) new investigative cases
during the reporting period, and closed twenty (20) cases.
The most significant case we closed this period involved a
senior level employee's abuse of the government credit card
and travel violations (see page 9). In addition, we continue
to vigorously pursue cases of pension fraud.
During
this period, the Inspector General testified before the Senate
Special Committee on Aging and the Senate Small Business Committee.
The Committees asked the IG to address audit work we performed
at their request concerning PBGC's benefit determination process
and the timeliness of PBGC's issuance of Initial Determination
Letters (IDLs). The testimony also included discussion of
a penetration study we performed of PBGC's computer systems
and an audit of their computer security policies and procedures.
This report
also contains our annual update of the OIG's strategic planning
for the coming year.
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