US GAO Audit Of SEC Finds No Major Problems
In examining the agency's financial statements for fiscal years 2007 and 2008, the GAO said the SEC had "effective control over financial reporting and compliance with laws and regulations."
The audit did find, however, that the SEC needs to improve its internal record-keeping. Specifically, the SEC had problems with information security controls, controls over accounting for budgetary resources and property and equipment controls. At times, the agency failed to properly keep track of its property, made errors in its accounting records and failed to implement the strongest security measures to protect its internal information.
Despite these deficiencies, the GAO said the SEC has still come a long way toward improving upon weaknesses found in its last audit.
-By Sarah N. Lynch, Dow Jones Newswires; 202-862-6634; sarah.lynch@dowjones.com
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(END) Dow Jones Newswires
November 17, 2008 17:25 ET (22:25 GMT)
Publié le 17 novembre 2008 Copyright © 2008 Dowjones
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