Federal Reports

DHS developed a strategy to apply 29 lessons learned from prior system updates to the current Financial Systems Modernization (FSM) TRIO program. Since DHS’ actions provides a positive outlook on the future progress of the FSM TRIO project we made no recommendations for improvement. The report’s limited objective and scope does not provide a complete assessment DHS’ efforts to incorporate lessons learned into their recently reinvigorated FSM efforts.

We found that the CSB was fully compliant with improper payments legislation and guidance during fiscal year 2019.We have amended our previous memorandum dated December 19, 2019, to add a sentence stating that our work was not performed in accordance with generally accepted government auditing standards.

The NCUA OIG conducted this self-initiated audit to assess the NCUA’s joint examination process with state supervisory authorities. The objectives of our audit were to determine: 1) whether the NCUA provided shared oversight of federally insured state-chartered credit unions (FISCUs) to assess their condition and address material risks that could negatively affect the Share Insurance Fund; and 2) whether the NCUA effectively monitored FISCUs using off-site monitoring tools and joint oversight processes with state supervisory authorities (SSAs).