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CFPB Report: 2017-FMIC-C-007 March 30, 2017
In FY 2015, the CFPB obligated $244 million in contract awards. We assessed the agency's compliance with internal policies and the Federal Acquisition Regulation for soliciting and awarding contracts.
Though generally compliant with applicable laws and policies, on some occasions the CFPB's records were missing required documentation. For example, records for a $2.2 million sole-source contract did not include evidence of certain reviews and approvals. We found additional opportunities to strengthen the CFPB's internal control environment during acquisition planning, improve contract file documentation, better use performance goals, and improve communication with program offices during the acquisition process.
Our report includes several recommendations to address these findings.