On June 10, 2016, as part of its Work Plan for the fourth quarter, the Federal Reserve Board’s Office of Inspector General announced that it will audit the Federal Reserve Board’s oversight of cybersecurity threats to financial institutions. According to the OIG, the growing sophistication and volume of cybersecurity threats presents a serious risk to all financial institutions. The OIG will focus its review on how the Federal Reserve System’s examination process has evolved and whether it is providing adequate oversight of financial institutions’ information security controls and cybersecurity threats.

The OIG’s Work Plan is available at: http://oig.federalreserve.gov/reports/oig-work-plan.pdf