We hired an Independent Public Accountant (IPA) to examine cost representations in invoices submitted to PBGC. The IPA applied agreed-upon procedures to assist OIG in evaluating whether costs incurred by the PBGC contractor in the fiscal years ending September 30, 2006 and 2007 were allowable, reasonable, supported and consistent with contractual provisions.

The IPA report questions $82,141 in costs related to the following issue:

• Employees of the contractor did not meet the PBGC experience requirements for three employees and education and prior employment

The report recommends corrective actions related to identified questioned costs and, if needed, the initiation of necessary collection actions.