By Silla Brush | Posted: 06/17/09 07:22 PM [ET] - 06/17/09 07:23 PM EDT
Senate Finance Committee Chairman Sen. Max Baucus (D-Mont.) had requested the audit. It could also include oversight of the government stake in Citigroup, Bank of America, Chrysler and Chrysler Financial.
The audit will cover the extent of government direction and control in daily operations of the firms. Barofsky, in a letter to Baucus, said that his office also intends to look at risk management, internal controls, and efforts to monitor that the government's interest is protected relative to corporate needs.