search
Inspector General
Trends
- 1Fed criticised for letting information security risks fester●Fed’s ‘collective lack of action’ let info security risks fester: OIG Governance of the central bank’s information secur
The Federal Reserve's Office of Inspector General has found that a 'collective lack of action' allowed information security risks to persist at the central bank. The report says governance of the Fed's information security program and enforcement of controls lack clarity, leaving a 2024 security incident unresolved for over a year.
- 2Military Inspector Generals to Check New Fitness Standards●New fitness standards will be checked in Inspector General reviews
The US military's Inspector General reviews will now include checks on how units are implementing the new fitness standards. The move signals that compliance with updated physical fitness requirements will be formally monitored rather than left to individual units. Details on which service branches are affected and when the reviews begin were not immediately clear.
- 3Fed watchdog finds no crimes in $2.4 billion renovation▼Fed watchdog finds no crimes in $2.4B building renovation, only mismanagement
An inspector general's review of the Federal Reserve's $2.4 billion headquarters renovation concluded there was no criminal wrongdoing, only mismanagement. The findings were picked up widely by US outlets including Scripps News, ABC News and Spectrum News. The overhaul of the Fed's Washington buildings had drawn political scrutiny over its cost, and the report removes claims of illegality while still criticizing oversight and planning.
- 4Fed watchdog blames mismanagement in $2.5B headquarters renovation▼Fed watchdog finds mismanagement, not criminality, in $2.5B renovation The Fed should establish a guaranteed maximum pri
The Federal Reserve's internal watchdog found that cost overruns in the central bank's $2.5 billion headquarters renovation stem from mismanagement rather than criminal conduct. The Office of Inspector General recommended the Fed establish a guaranteed maximum price for the project, which is now several years in and well over its original budget.