PBGC - Office of Inspector General

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Peer Review Reports

2020 Results

As adopted and approved by the majority of the Council of the Inspectors General on Integrity and Efficiency (CIGIE) membership, OIGs with an Inspection and Evaluation (I&E) organization that conducts I&Es in accordance with the Blue Book must undergo an external peer review every 3 years.

The PBGC OIG underwent a review for the period ending June 30, 2020. The Review Team assessed the extent to which the Pension Benefit Guaranty Corporation Office of Inspector General (PBGC OIG) met the seven CIGIE Quality Standards for Inspection and Evaluation. This assessment included a review of PBGC OIG’s policies and procedures. The Review Team also reviewed three inspection and evaluation reports issued between July 1, 2019, and June 30, 2020, to determine whether the reports complied with the covered Blue Book standards and the PBGC OIG internal policies and procedures. The Review Team determined the PBGC OIG policies and procedures and the three reports reviewed generally met the seven Blue Book standards.

Click here for the Peer Review report. 

2018 Results

Government Auditing Standards require that each organization performing audits in accordance with these standards must have an external peer review. The objectives of a peer review are to determine whether an effective quality control system has been established in the office and if policies, procedures, and applicable government auditing standards are followed. Peer reviews of OIGs must be performed by reviewers independent of the audit organization being reviewed at least once every 3 years and be conducted in accordance with guidance established by the Council of Inspectors General on Integrity and Efficiency. Audit organizations can receive a rating of pass; pass with deficiencies; or fail.

The PBGC OIG received a peer review rating of "pass," the highest available, for the year ending September 30, 2018. The peer review, which was completed by the Securities and Exchange Commission OIG in January 2019, found the PBGC OIG's system of quality control was suitably designed and operating effectively to provide the PBGC OIG with reasonable assurance that its audits complied with applicable professional standards and the OIG's quality controls in all material aspects. Click Here for Full Report

Click here for the Peer Review report. 

2021 Upcoming Peer Review

In 2021 the PBGC OIG is scheduled to undergo a peer review conducted by the Nuclear Regulatory Commission OIG. The peer review, required every three years by Government Auditing Standards, will cover the period from October 1, 2018 to September 30, 2021. Work is expected to begin in October 2021.

Pension Benefits Guarantee Corporation
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