Acting CFTC Chairman Pham Issues Statement On OIG Audit Of CFTC’s Use Of Charge Cards

Commodity Futures Trading Commission Acting Chairman Caroline D. Pham issued the following statement on the CFTC Office of Inspector General (OIG) Audit of CFTC’s Compliance with the Government Charge Card Abuse Prevention Act:

“I applaud the diligent work of the CFTC’s Office of the Inspector General to identify fraud, waste, and abuse in the independent audit of the agency’s Government Charge Card programs, including purchase cards and travel cards. The OIG audit did not identify any monetary violations. However, the OIG report and recommendations confirm the CFTC’s noncompliance with various requirements for internal policies and employee training—both issues I have repeatedly raised in the past, including calling for a GAO study—and instances of noncompliance relating to card deactivation for separated employees, transaction preapproval procedures, and correct interpretation and application of the Federal Travel Regulation, among other issues.  This independent audit report will support my efforts to strengthen the CFTC’s management accountability and governance, and the CFTC looks forward to completing appropriate corrective action plans.”