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Peer Reviewer Comment Letter Regarding The Peer Review Of The CFTC-OIG Audit Function.pdf

oigcommentletter042214.pdf

Preview of Peer Reviewer Comment Letter regarding the Peer Review of the CFTC-OIG Audit Function

🔗 Source: cftc.gov

📊 Size: 1.32 MB

👤 Author: Inspector General Osvaldo Gratacos

⬇️ Downloads: 813

Summary

The Office of Inspector General (OIG) of the Export-Import Bank of the United States reviewed the system of quality control for the audit organization of the Commodity Futures Trading Commission Office of the Inspector General (CFTC OIG) from April 1, 2010, to March 31, 2013. The CFTC OIG received a rating of "pass with deficiencies." The review found several deficiencies, including:

CFTC's policies do not address electronic media for audit documentation
CFTC's policies and procedures do not address annual summaries of monitoring process results
CFTC's policy does not address posting peer review reports for public access
CFTC's policy does not reference GAS 6.23-6.27 for understanding information systems controls
CFTC's policies and procedures do not address documentation for terminated audits
CFTC's policy does not address attestation engagements or non-audit services

The OIG recommended that CFTC OIG update its policies and procedures to address these findings and ensure compliance with the 2011 Government Auditing Standards revision. CFTC OIG agreed with some of the issues and made changes to its policies and procedures manual, but disputed some of the findings, stating that the guidance was already included in its manual. The OIG concurred with some of CFTC OIG's responses but maintained that some issues still needed to be addressed.

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Description

The Office of Inspector General (OIG) of the Export-Import Bank of the United States reviewed the system of quality control for the audit organization of the...

Technical Information

File Format: PDF
File Size: 1.32 MB
Pages: 3
Language: EN
Author: Inspector General Osvaldo Gratacos
Total Downloads: 813
Last Updated: 4 weeks ago

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