Federal Reserve Board: Inspector General Planning to Audit Board’s Governance Structure, According to the IG’s Work Plan

The Inspector General for the Federal Reserve Board (Board), in its October 1, 2016, Work Plan, page 7, stated that it will perform an audit of the Board’s governance structure.

Given the nature of such an audit, qualitative and not quantitative, I am afraid that such an important study will devolve into a useless “performance audit.” If so, I would be deeply disappointed; Inspectors General must be held to a higher standard of investigatory activity.

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