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CFPB Report: 2021-FMIC-C-009 July 21, 2021

The Bureau Can Improve Its Controls for Issuing and Managing Interagency Agreements

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The Bureau uses interagency agreements to procure certain goods or services from other government agencies. During fiscal year 2019, the obligated value of its active IAAs totaled some $320 million. We assessed the Bureau's controls for issuing and managing IAAs.

The Bureau can improve controls for issuing and managing IAAs. Specifically, it can strengthen guidance and training, establish controls for identifying statutory authorities and following relevant requirements, improve oversight to ensure compliance with invoicing policy, and enhance controls to ensure that excess funding is timely deobligated and reliable IAA data is generated.

This report contains recommendations.