Bureau of Consumer Financial Protection Independent Audit of Selected Operations and Budget, Fiscal Year 2018
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. This year’s independent audit, conducted by KPMG, L.L.P., evaluated: (1) Bureau’s budget process relative to Bureau policies and procedures established over budget formulation, execution, and monitoring; (2) Transit Subsidy Program’s policies and procedures and monitoring of interagency agreement with the Department of Health and Human Services; (3) policies and procedures of the Bureau’s Security Controls Assessment Program, as it applies to the cloud service provider Amazon Web Services; and (4) corrective actions taken to resolve the finding and recommendations included in BCFP’s 2017 Independent Audit of Selected Operations and Budget.