PBGC's Compliance with the DATA Act (AUD-2022-01), issued October 14, 2021

PBGC generally complied with the requirements for completeness, timeliness, quality, and accuracy of the data, and implementation and use of the government-wide financial data standards established by OMB and Treasury. Overall, we rated PBGC data results to be of “excellent” quality based on the established standards. However, we observed some inconsistencies, variances, and errors that might have impacted PBGC’s reporting of reliable and consistent federal spending data for public use. Some of these errors were attributable to third parties, such as the Federal Procurement Data System- Next Generation (FPDS-NG) and System for Award Management (SAM). In addition, we found that although PBGC timely reported the 59 procurement awards in our sample, it did not consistently report financial assistance awards timely to comply with the 30-day time limit in FFATA. In our sample, 13 of 53 (25% rounded) financial assistance awards were not reported timely.

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