| Clifton
Gunderson's financial statement audit of PBGC's Single-Employer
and Multiemployer Program Funds as of and for the years ended
September 30, 2006 and 2005 found:
- The
financial statements were presented fairly, in all materials
respects, in conformity with accounting principles generally
accepted in the United States of America;
- PBGC's
assertion about internal control over financial reporting
(including safeguarding assets) and compliance with laws
and regulations, as of September 30, 2006, is fairly stated
in all material respects. However four reportable conditions
were repeated from Fiscal Year 2005 regarding financial
management system integration, information security, single-employer
premiums and preparedness for unanticipated incidences and
disruptions;
- No
instances of noncompliance with tested laws and regulations.
Clifton Gunderson is responsible for the auditor's reports dated November 9, 2006, and the conclusions expressed in those reports. The OIG does not express opinions on PBGC's financial statements or internal control, nor do we draw conclusions on compliance with laws and regulations.
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