Page 1 GAO-25-107479 CFPB’s FY 2024 and FY 2023 Financial Statements
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November 14, 2024
Congressional Committees
Financial Audit: Consumer Financial Protection Bureau’s FY 2024 and FY 2023 Financial
Statements
This report transmits the GAO auditor’s report on the results of our audits of the fiscal years
2024 and 2023 financial statements of the Consumer Financial Protection Bureau (CFPB),
1
which is incorporated in the enclosed Financial Report of the Consumer Financial Protection
Bureau for Fiscal Year 2024.
As discussed more fully in the auditor’s report that begins on page 54 of the enclosed agency
financial report, we found:
• C
FPB’s financial statements as of and for the fiscal years ended September 30, 2024,
and
202
3, are presented fairly, in all material respects, in accordance with U.S. generally
accepted accounting principles;
• C
FPB maintained, in all material respects, effective internal control over financial reporti
ng
as of September 30, 2024; and
• no r
eportable noncompliance for fiscal year 2024 with provisions of applicable laws
,
regulations, contracts, and grant agreements we tested.
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Full-Year
Continuing Appropriations Act, 2011, both require CFPB to annually prepare financial
statements and require GAO to audit the agency’s financial statements.
2
This report responds to
these requirements.
We are sending copies of this report to the Director of the Consumer Financial Protection
Bureau, the Chair of the Federal Reserve, the Inspector General of the Board of Governors of
the Federal Reserve System and the Consumer Financial Protection Bureau, the Director of the
Office of Management and Budget, interested congressional committees and members, and
1
The Dodd-Frank Wall Street Reform and Consumer Protection Act established the Bureau of Consumer Financial
Protection, also known as the Consumer Financial Protection Bureau. Pub. L. No. 111-203, tit. X, § 1011, 124 Stat.
1955, 1964 (2010), classified at 12 U.S.C. § 5491.
2
Pub. L. No. 111-203, tit. X, § 1017(a)(4)(B), (a)(5), 124 Stat. 1376, 1976-77 (2010), classified at 12 U.S.C. §
5497(a)(4)(B), (a)(5); Pub. L. No. 112-10, div. B, tit. V, § 1573(a), 125 Stat. 38, 138 (2011), classified at 12 U.S.C. §
5496a.
