Federal Reports

The United States Capitol Police (USCP) Office of lnspector General (OIG) reviewed established policies and procedures for the audit function of the Federal Trade Commission (FTC) OIG in effect at March 31, 2015. USCP OIG conducted the review in accordance with the Council of the Inspectors General on Integrity and Efficiency (CIGIE) Guide for Conducting Peer Reviews of the Audit Organizations of Federal Offices of Inspector General for assessing established audit policies and procedures. A Modified Peer Review is designed to assess an OIG auditorganization whose work conducted in the last 3 years did not include audits and attestation engagements performed in accordance with generally accepted government auditing standards, but the OIG audit organization maintained policies and procedures in anticipationof performing such work. Based on the review, the established policies and procedures for the audit function at March 31 , 2015, were current and consistent with applicable professional standards as stated.

The mission of the FTC is to protect consumers by preventing anticompetitive, deceptive, and unfair business practices; enhancing informed consumer choices and public understanding of the competitive process; and accomplishing this without unduly burdening legitimate business activity. The Bureau of Economics (BE) performs research and analysis to determine economic impacts of FTC actions, as well as the impact of government regulation on competition and consumers. The FTC OIG performed this evaluation to determine whether BE optimizes its resources to accomplish its mission efficiently and effectively.

This report was originally issued as OIG-SBLF-14-002 on November 15, 2013. The report was withdrawn, revised, and reissued as OIG-SBLF-14-002R on June 26, 2015, to reflect changes made on pages 2, 13, and 14 of the report. The changes clarified the amount of administrative costs that were reviewed by the Office of Inspector General as part of a sample. The corrections did not affect the findings, conclusions, and recommendations as reported.