Audit of the NCUA's Quality Assurance Program

The National Credit Union Administration (NCUA) Office of Inspector General (OIG) conducted this self-initiated audit to assess the NCUA’s Quality Assurance Program. The objective of our audit was to determine whether the NCUA conducts its quality assurance activities in accordance with requirements. The scope of our audit covered the NCUA’s actions to execute quality assurance activities from January 1, 2020, through December 31, 2022. Our audit determined the NCUA substantially conducted its Quality Assurance Program in compliance with requirements. However, we did not find full compliance with the requirements for performing or documenting quality assurance reviews and completing quality assurance reviews or issuing response memos within established timeframes. Based on our interviews, we also identified areas for potential improvements to the Quality Assurance Program. We are making three recommendations in our report to address the issues we identified.