Cybersecurity on 2016 NCUA OIG Audit List

The NCUA’s Office of the Inspector General released its list of 2016 audits as part of its performance plan for the coming year.

Among the audits slated for 2016 are a review of NCUSIF material losses of more than $25 million, as required by the Dodd-Frank Act. The audit will determine causes for credit union failures and the resulting loss to the NCUSIF, and will assess the NCUA’s supervision of the credit unions.

The Federal Information Security Management Act requires the OIG to evaluate the agency’s IT security policies, procedures and practices, as well perform an assessment of compliance and privacy mandates. The OIG must determine if the agency was in compliance with FISMA and prepare an annual report for the Office of Management and Budget on the NCUA’s IT security management program. For the full article click here 

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