OFFICE OF INSPECTOR GENERAL
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
CONSUMER FINANCIAL PROTECTION BUREAU
August 27, 2013
Michelle Smith
Director, Office of Board Members
Board of Governors of the Federal Reserve System
William English
Director, Division of Monetary Affairs
Board of Governors of the Federal Reserve System
Melissa Heist /signed/
Associate Inspector General for Audits and Evaluations
OIG Report No. 2013-AE-B-012: Board Should Strengthen Controls over the Handling of the Federal Open Market Committee Meeting Minutes
Attached is the Office of Inspector General's report on the subject audit. Our objectives were to evaluate the Board of Governors of the Federal Reserve System's (Board's) processes for distributing Federal Open Market Committee meeting minutes to Federal Reserve staff and the Board's management controls to prevent the early distribution of those minutes. We conducted this audit in response to a request from the Board's Chairman.
We provided you with a draft of our report for review and comment. In your consolidated response, included as appendix B, you concurred with our recommendations and communicated your intent to implement them.
We appreciate the cooperation that we received from staff in the Office of Board Members and the Division of Monetary Affairs during our audit. Please contact me if you would like to discuss this report or any related issues.
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