Reports
Audit of Employment and Training Grant Subrecipients
The Audit of Treasury’s Monitoring of the Direct Loan Program
The Audit of Treasury’s Monitoring of the Direct Loan Program has two objectives. First, the Office of Audits will determine whether Treasury had a sufficient policy in place to guide its monitoring of the direct loans. Second, the Office of Audits will determine whether Treasury monitored borrowers’ compliance with the requirements of the CARES Act and the terms and conditions of the borrowers’ loan agreements, as well as whether Treasury followed up to resolve any issues that it detected.
FEMA's Federal Medical Supply Chain in Response to COVID-19
To determine to what extent FEMA managed and distributed medical supplies and equipment in response to the COVID-19 outbreak.
Fraud Risk Management Assessment and Fraud Risk Identification
HUD OIG is conducting an audit to assess HUD’s overall fraud risk management program, and to identify fraud risks for funds that HUD received from the Coronavirus Aid Recovery and Economic Stability Act and American Rescue Plan Act. Our objectives are to 1) assess HUD’s progress in implementing a fraud risk management framework, at the enterprise and program office levels, that encompasses control activities to prevent, detect, and respond to fraud; and 2) develop an inventory of fraud risks that HUD has not already identified for the funds appropriated by the CARES and ARP Acts for the Tenant-Based Rental Assistance, Project-Based Rental Assistance, HOME Investment Partnerships, and Public Housing Operating Fund program.
Audit of COVID-19 Impact on MSHA’s Mandatory Inspections
Performance Audit of the Mixed Earners Unemployment Compensation (MEUC) program under the Continued Assistance for Unemployed Workers Act (Continued Assistance Act) and the America Rescue Plan Act (ARPA)
Evaluation of the Federal Reserve System’s Loan Purchase Processes for Its Main Street Lending Program (MSLP)
In response to the COVID-19 pandemic, the Board established the MSLP—composed of five different lending facilities—to facilitate lending to small and medium-sized for-profit and nonprofit organizations. Through the MSLP, the Federal Reserve Bank of Boston purchased 1,830 loans amounting to approximately $17.5 billion from lenders; the majority of these loans were purchased during the last 2 months of the program. We plan to assess the design and operating effectiveness of the System’s processes for loan purchases.
Evaluation of the Federal Reserve System’s Loan Administration Processes for Its Main Street Lending Program (MSLP)
In response to the COVID-19 pandemic, the Board established the MSLP—composed of five different lending facilities—to facilitate lending to small and medium-sized for-profit and nonprofit organizations. Through the MSLP, the Federal Reserve Bank of Boston is responsible for administering the loans, including assessing overall credit risk and identifying substandard loans. We plan to assess the MSLP’s processes for loan administration, including the design and operating effectiveness of internal controls.