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Assessment of Risk Management Agency’s Oversight of High-Dollar Indemnities

Report Information

Date Issued
Report Number:
05601-0003-41
Report Type
Audit
Component
Risk Management Agency
Description
OIG assessed whether the Risk Management Agency provided adequate oversight and ensured that all required high-dollar indemnity reviews were conducted. 
Joint Report
No
Agency Wide
Yes (agency-wide)
Questioned Costs
$61,917,976
Funds for Better Use
$0
View report on Oversight.gov

Recommendations

Follow up with AIPs that did not submit reports for the 148 required $200,000 Indemnity Reviews in CY 2022 and (1) determine whether the $61.9 million in questioned, unsupported indemnity cost were supported and allowable, and (2) recover any costs determined to be unsupported and unallowable.

Review CYs 2019 through 2023 and follow up with AIPs for unsubmitted reports for the required $200,000 Indemnity Reviews and, if adequate support is not provided, recover the unsupported indemnity amounts.

Develop and implement a process and procedures to regularly reconcile the required $200,000 Indemnity Reviews with the associated completion reports submitted by AIPs.