We hired an Independent Public Accountant (IPA) to examine cost representations in invoices submitted to PBGC. During the fourth quarter of 2007, the IPA applied agreed-upon procedures to assist OIG in evaluating whether costs incurred by a PBGC contractor in the fiscal years ending September 30, 2005 and 2006 were allowable, reasonable, supported and consistent with contractual provisions.
The IPA's report questions $113,782 in costs related to the following issues:
- No timesheet support for employee of $2,051;
- Erroneously billed subcontractor costs of $82,880;
- Unapproved subcontractor costs of $3,215; and
- Unverified education and experience for all employees of $25,636.
The report recommends corrective actions related to identified questioned costs and, if needed, the initiation of necessary collection actions.
Because
this report contains proprietary information, it is not publicly
available.
|
