Board Report: 2014-AE-B-007 March 31, 2014
OFFICE OF INSPECTOR GENERAL
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
CONSUMER FINANCIAL PROTECTION BUREAU
March 31, 2014
Michell Clark
Director of the Management Division
Board of Governors of the Federal Reserve System
Melissa Heist /signed/
Associate Inspector General for Audits and Evaluations
OIG Report No. 2014-AE-B-007: Opportunities Exist for the Board to Improve Recordkeeping, Cost Estimation, and Cost Management Processes for the Martin Building Construction and Renovation Project
The Office of Inspector General has completed its final report on the subject audit. We conducted this audit to assess how the cost estimates for the Martin Building construction and renovation project were determined and how these costs will be managed within the strategic framework of the Board of Governors of the Federal Reserve System.
We provided you with a copy of our draft report for review and comment. In your response, you stated that you concurred with our recommendations and are in the process of implementing and making changes. We have included your response as appendix D in our report.
We appreciate the cooperation that we received from Management Division and Division of Financial Management staff during our audit. Please contact me if you would like to discuss this report or any related issues.
Donald Hammond
William Mitchell
David Capp
Marie Savoy
