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Bureau of Consumer Financial Protection Independent Audit of Selected Operations and Budget, Fiscal Year 2019

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 2019’s independent audit, conducted by KPMG, L.L.P., evaluated: (1) CFPB’s budget process relative to CFPB policies and procedures established over budget formulation, execution, and monitoring; (2) the Office of Human Capital’s policies and procedures relating to employee expense reimbursement for professional licenses, certifications and memberships; and (3) corrective actions taken to resolve the finding and recommendations included in the Bureau’s 2018 Independent Audit of Selected Operations and Budget.

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