Administration
PBGC’s FY 2018 Annual Performance Report (EVAL-2020-09), issued March 30, 2020
While we found no material misstatements, we did find several errors in the 2018 APR. We also determined that PBGC has not implemented OMB Circular A-11, Part 6; specifically, PBGC does not have an agency-wide validation and verification policy in place to ensure data accuracy. In addition, PBGC did not, as required, disclose its assessment of the reliability and completeness of the performance data in the FY 2018 APR. As a result, the APR may not accurately reflect the Corporation's progress towards performance goals and fulfilling the requirements of OMB A-11 Part 6. This failure increases the reputational risk that the APR could contain a material misstatement. We made two recommendations in the report, which PBGC agreed with and plan to implement by December 31, 2020.
