PBGC - Office of Inspector General

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Fiscal Year 2021 Financial Statement Audit Management Letter Report (AUD-2022-06), issued January 14, 2022

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-2022-02/FA-21-155-1). In addition to the eight open recommendation from the prior years, in FY 2021 EY had issued four new recommendations with the total of 12 open recommendations at the end of FY 2021. PBGC management agreed with the new recommendations and provided planned corrective actions and estimated completion dates.

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Pension Benefits Guarantee Corporation
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