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Consumer Financial Protection Bureau Independent Audit of Selected Operations and Budget, Fiscal Year 2015

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) CFPB’s budget process relative to CFPB policies and procedures established over budget formulation, execution, and monitoring; (2) CFPB’s Investment Review Board (IRB) process relative to CFPB’s policies and procedures; (3) CFPB’s information privacy function relative to CFPB policies and procedures over the compliance with Privacy laws and applicable regulations and guidance, and (4) the corrective actions taken to resolve the findings included in CFPB’s FY 2014 Independent Audit of Operations and Budget, also completed by KPMG, L.L.P.

Full report

Read the independent audit of selected operations and budget, fiscal year 2015.