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Brought to you by the Council of the Inspectors General on Integrity and Efficiency
Federal Reports
Report Date
Agency Reviewed / Investigated
Report Title
Type
Location
Board of Governors of the Federal Reserve System
The Board's Contract Solicitation, Selection, and Award Processes for the Contracts We Reviewed Were Generally Effective but Can Be Further Enhanced
The previously-issued audit report containing the Annual Financial Statements of the Federal Prison Industries, Inc. (FPI) for fiscal year (FY) 2021, dated December 2021, was withdrawn and removed from the OIG’s website and Oversight.gov as a result of material misstatements in FPI’s financial statements that were discovered in FY 2023. The report now linked to this page contains the auditor’s report on the FPI’s restated financial statements for FY 2021.
The previously-issued audit report containing the Annual Financial Statements of the Federal Prison Industries, Inc. (FPI) for fiscal year (FY) 2022, dated March 2023, was withdrawn and removed from the OIG’s website and Oversight.gov as a result of material misstatements in FPI’s financial statements that were discovered in FY 2023. The report now linked to this page contains the auditor’s report on the FPI’s restated FY 2022 financial statements and completed FY 2023 financial statements.
The audit concluded that the Peace Corps’ financial statements were fairly presented, in all material respects, in accordance with Generally Accepted Accounting Principles (GAAP), and noted two significant deficiencies in the agency’s internal control over financial reporting, as well as one instance of reportable noncompliance related to provisions of applicable laws, regulations, contracts, and grant agreements.
The U.S. Environmental Protection Agency Office of Inspector General conducted this audit to determine whether the EPA has sufficient controls over its grants management processes to monitor post-award performance of grants awarded with Infrastructure Investment and Jobs Act funding in accordance with federal grant requirements and other related EPA policies.
Summary of Findings
The EPA did not have controls in place to ensure that its regional offices are monitoring post-award performance of grants through required post-award monitoring plans and regular monitoring reviews. In addition, the regional offices did not always complete their baseline monitoring reports. Finally, of the 40 grant files we reviewed, 39 were not maintained in accordance with regional policy.
