Federal Reports

The National Credit Union Administration (NCUA) Office of Inspector General's (OIG) Semiannual Report to the NCUA Board and the Congress highlights accomplishments and ongoing work for the 6-month period ending September 30, 2023. The OIG's work reflects the legislative mandate of the Inspector General Act of 1978, as amended, to promote the economy, efficiency, and effectiveness of NCUA programs and operations, and protect against fraud, waste, and abuse. The audits and investigations highlighted in this report demonstrate our commitment to that cause as well as our goal of enhancing public confidence in the NCUA’s regulatory process.

We are pleased to present our report for the period April 1, 2023, to September 30, 2023. In this semiannual period, our audit, evaluation, and investigative activities identified more than $67.7 million in questioned costs; funds to be put to better use; recoveries, fees, and fines; waste/other monetary loss; and opportunities for TVA to improve its programs and operations.TVA relies on contractors and vendors to access materials, build and maintain assets, and innovate new technology to support and advance operations. Just as the world has experienced supply chain issues and workforce shortages, TVA must compete for resources required to expand generation, meet carbon reduction goals, and maintain aging generation assets. Our office supports TVA’s efforts by focusing resources to (1) find ways to save and recover costs, (2) identify operational risks that could impact TVA’s ability to execute its mission, and (3) detect and prevent fraud, waste, and abuse. TVA has served the people of the Tennessee Valley for 90 years. Our imperative to help make TVA better is how we serve the 10 million people of the Tennessee Valley.

The Semiannual Report to Congress summarizes the results of VA OIG oversight, provides statistical information, and lists all 169 work products issued from April 1 to September 30, 2023. During this reporting period, VA OIG audits, evaluations, investigations, inspections, and other reviews identified more than $1.14 billion in monetary impact for a return on investment of $11 for every dollar spent. The OIG hotline received and triaged over 18,000 contacts in the past six months—to help identify wrongdoing and address concerns with VA activities. Also during the past six months, special agents opened 230 investigations and closed 190, with efforts leading to 95 arrests. Collectively, the OIG’s work also resulted in 581 administrative sanctions and corrective actions during the six-month reporting period.