NCUA’s Office of the Inspector General (OIG) has released its list of audits that it said would most benefit the agency in 2016. The information was included in the OIG’s 2016 performance plan.
Among the audits it plans for 2016 are:
- Material loss reviews on any credit union material losses exceeding $25 million to the NCUSIF.
- Review of compliance with the Federal Information Management Security Act (FIMSA).
- A review of the NCUA’s purchase and travel card programs to analyze risks of illegal, improper or erroneous purchases or payments.
- A review of reporting entities for the year ending Dec. 31, 2016, which includes the NCUSIF, NCUA operating fund, Central Liquidity Facility, Community Development Revolving Loan Fund and Temporary Corporate Credit Union Stabilization Fund. These reports must be released by Feb. 15, 2017.
- Evaluations of the NCUA’s plans to report financial and payment data in accordance with the requirements of the Digital Accountability and Transparency Act of 2014.
The OIG said discretionary audits it is considering for 2016 include:
- Determining whether the NCUA’s procurement process is fair and effective.
- Determining whether NCUA examiners adequately assess credit union real estate loan portfolios, associated risks and credit union actions to mitigate the risks.
- Determining whether the NCUA adequately limits or controls employee and contractors access to sensitive NCUA and credit union data stored within the NCUA’s IT infrastructure.
- Assessing the NCUA’s Office of Small Credit Union Initiatives’ process over eligibility determination when selecting grant recipients, and determining whether grant expenditures are used for their intended purposes.
The complete 15-page report can be read here.