PBGC - Office of Inspector General

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Peer Review Reports

2021 Results - Audit (Yellow book)

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 three 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" for the year ending September 30, 2021. The peer review, which was completed by the Board of Governors Federal Reserve System Bureau of Consumer Financial Protection OIG in June 2022. They found the PBGC OIG's system of quality control for the audit organization for the year ended September 30, 2021, has been suitably designed and complied with to provide the PBGC OIG with reasonable assurance of performing and reporting in conformity with applicable professional standards and applicable legal and regulatory requirements in all material respects.

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2020 Results - Inspections and Evaluations (Blue Book)

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. 

Pension Benefits Guarantee Corporation
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