OIG Special Report - FY 2019 Purchase Card Risk Assessment (SR-2020-12), issued September 25, 2020

The Government Charge Card Abuse Prevention Act of 2012 requires Offices of Inspector General to, among other things, conduct periodic assessments of the government purchase card program to identify and analyze risks of illegal, improper, or erroneous purchases and payments. According to the Office of Management and Budget (OMB) memorandum M-13-21, this risk assessment should be performed annually. The purpose of this special report is to fulfill the requirements of the Act and OMB guidance. In general, PBGC’s policies procedures and internal controls are designed to provide reasonable assurance for implementing and managing the PBGC charge card program and to mitigate the potential for fraud and misuse. However, because of limited and delayed program oversight, we are elevating the level of risk of illegal, improper, or erroneous purchases from low to medium. We also have determined this elevated risk warrants a separate OIG engagement of PBGC’s charge card program in the near future.

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