The Office of Inspector General (OIG) for the Federal Reserve Board operates in accordance with the Inspector General Act of 1978, as amended. The OIG conducts activities and makes recommendations to promote economy and efficiency; enhance policies and procedures; and prevent and detect waste, fraud, and abuse in Board programs and operations, including functions that the Board has delegated to the Federal Reserve Banks. Accordingly, the OIG plans and conducts audits, inspections, evaluations, investigations, and other reviews relating to Board and Board-delegated programs and operations. It also retains an independent auditor to annually audit the Board's and the Federal Financial Institutions Examination Council's financial statements. In addition, the OIG keeps the Congress and the Chairman of the Board of Governors fully informed about serious abuses and deficiencies.
During 2009, the OIG completed 13 audits, inspections, evaluations, and other reviews (table), and conducted a number of follow-up reviews to evaluate action taken on prior recommendations. Due to the sensitive nature of some of the material, certain reports were only issued internal to the Board, as indicated. The OIG also closed one investigation, issued two semiannual reports to Congress, and performed over 60 reviews of legislation and regulations related to the operations of the Board and/or the OIG.
For more information, visit the OIG website at www.federalreserve.gov/oig/.
|Report title||Month issued|
|Audit of Blackberry and Cell Phone Internal Controls||March|
|Report on the Inspection of the Board's Law Enforcement Unit (Internal Report)||March|
|Federal Financial Institutions Examination Council Financial Statements as of and for the Years Ended December 31, 2008, and 2007, and Independent Auditors' Report||March|
|Security Control Review of the Audit Logging Provided by the Information Technology General Support System (Internal Report)||March|
|Board of Governors of the Federal Reserve System Financial Statements as of and for the Years Ended December 31, 2008, and 2007, and Independent Auditors' Report||March|
|Security Control Review of the Electronic Security System (Internal Report)||June|
|Material Loss Review of First Georgia Community Bank||June|
|Material Loss Review of County Bank||September|
|Material Loss Review of Riverside Bank of the Gulf Coast||September|
|Audit of the Board's Processing of Applications for the Capital Purchase Program under the Troubled Asset Relief Program||September|
|Audit of Management and Accountability of Mobile Computing Devices (Internal Report)||October|
|Audit of the Board's Information Security Program||November|
|Material Loss Review of Michigan Heritage Bank||December|