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GAO-23-105879 1 (2022-11-15)

handle is hein.gao/gaonwr0001 and id is 1 raw text is: U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 November 15, 2022 Congressional Committees Financial Audit: Consumer Financial Protection Bureau's FY 2022 and FY 2021 Financial Statements This report transmits the GAO auditor's report on the results of our audits of the fiscal years 2022 and 2021 financial statements of the Consumer Financial Protection Bureau (CFPB),1 which is incorporated in the enclosed Financial Report of the Consumer Financial Protection Bureau for Fiscal Year 2022. As discussed more fully in the auditor's report that begins on page 54 of the enclosed agency financial report, we found CFPB's financial statements as of and for the fiscal years ended September 30, 2022, and 2021, 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, 2022; and no reportable noncompliance for fiscal year 2022 with provisions of applicable laws, regulations, contracts, and grant agreements we tested. Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act2 and the Full-Year Continuing Appropriations Act, 2011,3 both require CFPB to annually prepare financial statements and require GAO to audit the agency's financial statements. This report responds to these requirements. We are sending copies of this report to the Director of the Consumer Financial Protection Bureau, the Chair of the Federal Reserve, the Inspector General of the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau, the Director of the Office of Management and Budget, interested congressional committees and members, and other interested parties. In addition, the report is available at no charge at the GAO website at https://www.gao.gov. 1The Consumer Financial Protection Act of 2010 established the Bureau of Consumer Financial Protection, also known as the Consumer Financial Protection Bureau. Pub. L. No. 111-203, title X, § 1011, 124 Stat. 1955, 1964, classified at 12 U.S.C. § 5491. 2Pub. L. No. 111-203, title X, § 1017(a)(4)(B), (a)(5), 124 Stat. 1376, 1976-77 (2010), classified at 12 U.S.C. § 5497(a)(4)(B), (a)(5). 3Pub. L. No. 112-10, div. B, title V, § 1573(a), 125 Stat. 38, 138 (2011), classified at 12 U.S.C. § 5496a. GAO-23-105879 CFPB's FY 2022 and FY 2021 Financial Statements Page 1

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