An OIG audit examines an AOC program or activity and makes recommendations, if warranted, to enhance agency operations and promote economy and efficiency.
The audits issued by the OIG must be performed in accordance with the Generally Accepted Government Auditing Standards issued by the Government Accountability Office. This is often referred to as GAGAS or the Yellow Book. Each year the OIG transmits reports on the AOC's financial statements which are conducted by an independent public accountant (IPA). The OIG is the Contracting Officer's Technical Representative on the contract between AOC and the IPA. These reports include an opinion on whether the financial statements are fairly presented, a report on internal control and a report on AOC compliance with laws and regulations.
The OIG prepares an Audit Plan on a regular rotating schedule. The plan includes legislatively mandated audits and other work selected for audit based on risk and materiality, or requests from Congress, the AOC or other stakeholders.
OIG audit staff must meet the requirements for the GS-511 Auditing Series and must also meet the continuing professional education requirements of Government Auditing Standards. The OIG also issues contracts with IPAs or otherwise that work under contract with the OIG and AOC.