New Audit Announcements
Audit Announcement of the Effectiveness of DOT’s Earned Value Management Practices
The Office of Inspector General (OIG) is initiating an audit of the effectiveness of the Department of Transportation’s (DOT) Earned Value Management (EVM) practices. EVM is a management approach that provides objective reports of investment status, produces early warning signs of schedule delays and cost overruns, and provides unbiased estimates of an investment’s total costs. OIG has contracted with KPMG LLP, an independent public accounting firm, to perform this audit subject to OIG’s oversight. The audit objectives are to determine whether DOT: (1) has implemented effective EVM policies, procedures and practices for its IT investments; (2) uses accurate EVM data to plan, monitor, and report the status of its IT investments and related security spending.