New Audit Announcements

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The Office of Inspector General (OIG) is initiating an audit of the Build America Bureau’s oversight and management of Transportation Infrastructure Finance and Innovation Act (TIFIA) credit assistance agreements. As of April 2020, the Build America Bureau had financed 87 TIFIA loans totaling $33.3 billion. The TIFIA program provides loans and other types of credit assistance to eligible applicants—including State departments of transportation, transit operators, special authorities, local governments, and private entities—for the construction of surface transportation projects. Our audit objective is to determine whether the Build America Bureau has effective internal controls to oversee and manage TIFIA credit assistance agreements.