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GAO-14-170R 1 (2013-12-16)

handle is hein.gao/gaobaahmt0001 and id is 1 raw text is: GAO U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 December 16, 2013 The Honorable Tim Johnson Chairman The Honorable Mike Crapo Ranking Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Jeb Hensarling Chairman The Honorable Maxine Waters Ranking Member Committee on Financial Services House of Representatives Financial Audit: Bureau of Consumer Financial Protection's Fiscal Years 2013 and 2012 Financial Statements This report transmits the GAO auditor's report on the results of our audits of the fiscal years 2013 and 2012 financial statements of the Bureau of Consumer Financial Protection, known as the Consumer Financial Protection Bureau (CFPB), which is incorporated in the enclosed Financial Report of the Consumer Financial Protection Bureau for Fiscal Year 2013. These financial statements are the responsibility of CFPB. As discussed more fully in the auditor's report that begins on page 44 of the enclosed financial report, we found * the CFPB financial statements as of and for the fiscal years ended September 30, 2013, and 2012, are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; * CFPB maintained, in all material respects, effective internal control over financial reporting as of September 30, 2013, although internal control deficiencies regarding year-end accounts payable accruals and accounting for property and equipment exist that merit attention by those charged with governance; and * no reportable noncompliance for fiscal year 2013 with provisions of applicable laws, regulations, contracts, and grant agreements we tested. GAO-14-170R CFPB's Fiscal Years 2013 and 2012 Financial Statements Page 1

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