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Ongoing Work

(Information as of March 16, 2023)

Audits, Evaluations, and Cyber

The FDIC’s Administration and Oversight of the AT&T Telecommunications Contract

The objective of our review is to determine if the FDIC authorized and paid AT&T for services to upgrade bandwidth in FDIC field offices in accordance with its existing telecommunications contract and its policies and procedures. 

Sharing of Threat and Vulnerability Information Phase 2

The objective is to determine whether the FDIC has implemented effective processes to ensure that financial institutions receive actionable and relevant threat and vulnerability information.

The FDIC's Examination of Government-Guaranteed Loans

The objective is to determine the effectiveness of the FDIC’s examinations in identifying and addressing undue risks and weak management practices for banks that participate in government-guaranteed loan programs. 

Evaluation of the FDIC’s Readiness to Execute the Orderly Liquidation Authority

Our objective is to determine whether the FDIC has established key elements to execute the Orderly Liquidation Authority under the Dodd-Frank Act, including: (1) comprehensive policies and procedures; (2) defined roles and responsibilities; (3) necessary resources and skill sets; (4) regular monitoring of results; and (5) integration with the Agency’s crisis readiness and response planning.

Audit of FSOC’s Response to the Executive Order on Climate-Related Financial Risk

The objective of the audit is to determine what actions FSOC has taken, or planned, in response to Executive Order 14030, Climate-Related Financial Risk, as of November 30, 2021 and whether those actions are consistent with the policy, objectives and directives set forth in the Executive Order.

Evaluation of the FDIC’s Efforts to Increase Consumer Participation in the Insured Banking System

The objective is to determine whether the FDIC developed and implemented an effective strategic plan to increase the participation of unbanked and underbanked consumers in the insured banking system.

FDIC Strategies Related to Crypto-Asset Risks

The objective is to determine whether the FDIC has developed and implemented strategies that address the risks posed by crypto assets.

Audit of FDIC’s Adoption of Cloud Services

The audit objective is to determine if the FDIC has an effective strategy and governance processes to manage its cloud computing services.

Evaluation of the FDIC's Purchase and Deployment of the FDIC Acquisition Management System 

The objective is to determine the primary factors that led to the FDIC’s unsuccessful deployment of the FDIC Acquisition Management System.