Fiscal Year 2020 Financial Statement Audit Management Letter Report (AUD-2021-06), issued February 1, 2021
We contracted with Ernst & Young LLP (EY), an independent certified public accounting firm, to perform the audit. This management letter summarizes EY’s findings and recommendations related to PBGC’s internal control deficiencies and other matters. The issues noted in this report are not significant; and therefore, the deficiencies were not required to be reported in the Independent Auditor’s Report (AUD-2021-02/FA-20-148-1). In addition to the seven open recommendation from the prior years, in FY 2020 EY had issued nine new recommendations with the total of 16 open recommendation at the end of FY 2020. PBGC will continue working with EY to resolve these recommendations.
This report contains public information and will be posted in its entirety on our website and provided to the Board and Congress in accordance with the Inspector General Act.