Financial Audit: Bureau of Consumer Financial Protection's Fiscal Year 2011 Financial Statements

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A letter report issued by the Government Accountability Office with an abstract that begins "Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to as the Consumer Financial Protection Act of 2010, created the Bureau of Consumer Financial Protection (CFPB). The act charged it with the responsibility of regulating the offering and provision of consumer financial products or services under the federal consumer financial laws. The act also requires CFPB to annually prepare financial statements, and further requires GAO to audit these statements. The Full-Year Continuing Appropriations Act, 2011 also requires that GAO audit CFPB's financial ... continued below

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United States. Government Accountability Office. November 15, 2011.

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Description

A letter report issued by the Government Accountability Office with an abstract that begins "Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to as the Consumer Financial Protection Act of 2010, created the Bureau of Consumer Financial Protection (CFPB). The act charged it with the responsibility of regulating the offering and provision of consumer financial products or services under the federal consumer financial laws. The act also requires CFPB to annually prepare financial statements, and further requires GAO to audit these statements. The Full-Year Continuing Appropriations Act, 2011 also requires that GAO audit CFPB's financial statements. Pursuant to the above-referenced requirements in these two acts, GAO audited CFPB's fiscal year 2011 financial statements to determine whether (1) the financial statements were fairly presented, and (2) CFPB management maintained effective internal control over financial reporting. GAO also tested CFPB's compliance with selected laws and regulations.."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • November 15, 2011

Added to The UNT Digital Library

  • June 12, 2014, 7:50 p.m.

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United States. Government Accountability Office. Financial Audit: Bureau of Consumer Financial Protection's Fiscal Year 2011 Financial Statements, report, November 15, 2011; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc299320/: accessed October 22, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.