Peer Reviews
Government auditing and investigative standards require that our audit and investigative units each be reviewed by a peer OIG organization every three years. Section 989C of the Dodd-Frank Act amended the Inspector General Act of 1978, as amended, to require that OIGs provide in their semiannual reports to Congress specified information regarding (1) peer reviews of their respective organizations and (2) peer reviews they have conducted of other OIGs. The following information addresses these Dodd-Frank Act requirements.
- The last peer review of the OIG’s audit organization was completed in September 2014 by the Tennessee Valley Authority OIG. We received a peer review rating of pass. There were no report recommendations, nor were any recommendations pending from any previous peer reviews of our audit organization.
- The last peer review of the OIG’s Office of Investigations was completed in October 2013 by the U.S. Railroad Retirement Board OIG. We received a peer review rating of pass. There were no report recommendations, nor were any recommendations pending from any previous peer reviews of our investigative organization. The peer review included suggestions for improvement, which we have considered and incorporated into updated policies and procedures where appropriate.
Peer review reports of our organization are available on our website: http://oig.federalreserve.gov/reports/peer-reviews.htm.
