The IG Act
The Inspector General Act of 1978, as amended, statutorily established the Federal Inspectors General (IG) as independent and objective units within most agencies whose duties are to combat waste, fraud, and abuse in the programs and operations of their respective agencies. To this end, each IG is responsible for conducting audits and investigations relating to the programs and operations of its agency. Additionally, IGs provide leadership and coordination and recommend policies for activities designed to promote economy, efficiency, and effectiveness, and prevent and detect fraud and abuse, in agency programs and operations. Today IGs representing 73 federal establishments carry out the IG mission.
CIGIE and CIGFO Involvement
The OIG fully supports and participates in IG community activities through the Council of the Inspectors General on Integrity and Efficiency (CIGIE). This Council is an independent entity established within the executive branch to address integrity, economy, and effectiveness issues that transcend individual Government agencies and aid in the establishment of a professional, well-trained and highly skilled workforce in the Offices of Inspectors General. Visit www.ignet.gov.
CIGIE also created Oversight.gov to consolidate in one place all public reports from Federal Offices of Inspector General (OIGs) in order to improve the public’s access to independent and authoritative information about the Federal Government. The site includes a publicly accessible, text searchable repository of reports published by OIGs. In addition, the site includes an Open Recommendations page that serves as a single public repository for open recommendations and any associated potential cost savings. More information about the Open Recommendations page is available on Oversight.gov's Open Recommendations Fact Sheet.
The FDIC OIG is also a member of the Council of Inspectors General on Financial Oversight (CIGFO). This Council was established by the Dodd–Frank Wall Street Reform and Consumer Protection Act (Pub.L.111-203). Council members share information about their ongoing work, with a focus on concerns that may apply to the broader financial sector and ways to improve financial oversight. The Council is made up of nine financial regulatory agency Inspectors General. Visit the CIGFO Website.
Pandemic Response Accountability Committee
Established in March 2020 by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Pandemic Response Accountability Committee (PRAC) is a Committee of the Council of the Inspectors General on Integrity and Efficiency (CIGIE). The FDIC OIG is an active member of the PRAC. In response to the coronavirus outbreak, Congress authorized historic levels of emergency funding for Federal agencies, and to provide relief to individuals, businesses, State and local governments, and public services. The PRAC’s purpose is to coordinate and support the oversight of covered coronavirus funds and the Federal Government’s coronavirus response, and to identify major risks that cut across program and agency boundaries. The PRAC strives to prevent and detect fraud, waste, abuse, and mismanagement in Federal programs related to the coronavirus response. The PRAC works with Inspectors General to develop recommendations for program improvements, refer matters for criminal investigations, and identify misspent covered funds for recovery. Visit the PRAC's website.
Other Key Partnerships
We meet with representatives of the Government Accountability Office to coordinate work and minimize duplication of effort. We also partner with representatives of the Department of Justice, including the Federal Bureau of Investigation and U.S. Attorneys’ Offices, to coordinate our criminal investigative work and pursue matters of mutual interest.