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LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
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MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA OIG Past, Near Future Detailed In Report To Congress
ALEXANDRIA, Va. (11/27/13)--The National Credit Union Administration's Office of the Inspector General "has been active on both the audit and investigative sides" this year. Details of that office's work and the NCUA's broader endeavors are provided in the OIG's Semiannual Report to the NCUA Board and the Congress.

The report highlights the OIG's and NCUA's work during the six months ended Sept. 30.

In the report, the OIG updates Congress on the status of some ongoing audits, including:
  • An independent evaluation of the NCUA's compliance with the Federal Information Security Management Act (FISMA) of 2013;
  • A review of the NCUA's 2013 financial statements;
  • Material loss reviews of Chetco FCU, Harbor, Ore., and Taupa Lithuanian CU, Cleveland, Ohio;
  • A review of the agency's process for documenting share insurance fund losses and credit union failures; and
  • A review of the NCUA's credit union success stories.
The report also summarizes OIG reviews of the NCUA's conference-related activities and expenses, the security of the NCUA's data center, and the material loss review of El Paso's FCU, El Paso, Texas.

An overview of federally insured credit union key financial indicators, and details on the NCUA's structure, staff, budget, and major projects during 2103 are also provided.

For the full report, use the resource link.
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