In a letter made public on Monday, the Government Accountability Office dinged the CFPB for its own financial record keeping.
The GAO said a review of the agency's FY15 financial statement showed that the agency did not have policies in place that would guarantee its financial statements were prepared in accordance with accepted standards.
The GAO said the problems that were discovered are not considered to be major.
The accountability office identified three problems: The agency incorrectly reported Freedom of Information Act fees, had a negative total on its balance sheet and made inadequate disclosures.
The GAO also found the CFPB did not effectively implement internal controls over the recording of its property, equipment and software – something that also led to inaccuracies in its financial statements.
In a response to the GAO report attached to the document, CFPB Director Richard Cordray said his agency is addressing the issues reported by investigators.
Republicans have proposed legislation that would take away Cordray's power and give it to a commission. And credit unions have said they should be exempt from many of the agency's regulations that were put in place to help prevent problems caused by the financial crisis, arguing that they were not the cause of the crisis.
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