Consumer Financial Protection Bureau Independent Audit of Selected Operations and Budge
December 21, 2023 / Source: CFPB
In accordance with the Dodd-Frank Act, the CFPB orders an annual independent audit of the operations and budget of the Bureau. The purpose of this audit is to provide objective analyses to improve program performance and operations, reduce costs, facilitate decision-making, and contribute to public accountability. Fiscal Year 2021’s independent audit, conducted by Premier Group Services, Inc. evaluated: (1) CFPB’s budget process relative to CFPB policies and procedures established over budget formulation, execution, and monitoring; (2) corrective actions taken to resolve the finding and recommendations included in the Bureau’s 2020 Independent Audit of Selected Operations and Budget; and (3) Enterprise Architecture (EA) program, with an emphasis on how CFPB uses EA as a strategic asset to inform investments and align with the Bureau’s strategic plan.