ALEXANDRIA, Va.–NCUA has no programs susceptible to “significant improper payments,” according to its Office of Inspector General (OIG).
The OIG issued the statement in a letter to the Senate Homeland Security and Government Affairs Committee following a review of the federal credit union regulatory agency’s 2021 compliance under the 2019 Payment Integrity Information Act (PIIA).
In its letter, the agency pointed out the PIIA requires agencies to review all programs and activities they administer to identify those that may be susceptible to significant erroneous payments, and it requires the OIG of each agency to determine whether the agency is in compliance with the PIIA.
Requirements Fulfilled
The OIG further noted in its letter that “any program that expends at least $1 million during the year [is required] to implement payment recapture audits, if cost effective to the agency, in order to recover improper payments.”
Finally, the OIG said, having found no susceptibility to improperly payments, showed the NCUA complied with PIIA requirements for reporting, and for risk assessments, the letter states. The Inspector General added that had improper payments been found, NCUA would have been required under the PIIA to take specific corrective steps.
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