The Board Has Effective Processes to Collect, Aggregate, Validate, and Report CARES Act Lending Program Data
Audit · Federal Reserve Board & CFPB OIG · 2022-02-28 · about Board of Governors of the Federal Reserve System
Report
Title
The Board Has Effective Processes to Collect, Aggregate, Validate, and Report CARES Act Lending Program Data
Submitting OIG
Federal Reserve Board & CFPB OIG
Component agency
Board of Governors of the Federal Reserve System
Type
Audit
Publication date
2022-02-28
Recommendations (2)
#
Status
Text
1
Closed
Document the key decision to rely on Reserve Bank internal controls to gain assurance over publicly reported transaction-specific CARES Act data, as well as the rationale for that decision.
2
Closed
Identify and document learning opportunities from the CARES Act reporting experience so that they may be used by the Board when future exigent circumstances arise.