Management Report: Improvements Needed in SECäó»s Internal Controls and Accounting Procedures

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By Gregory C. Wilshusen (au)
Year: 2013
Pages: 27
Binding Paperback
ISBN 978-1-4578-4567-3

Product Code: 1457845679

Description

On Nov. 15, 2012, GAO issued their report on the U.S. Securities and Exchange Comm.'s (SEC) and its Investor Protection Fund's (IPF) FY 2012 and 2011 financial statements. The report also included (1) GAOäó»s opinion on the effectiveness of SEC's internal control over financial reporting as of Sept. 30, 2012, and GAOäó»s evaluation of SEC's compliance with selected provisions of laws and regulations during FY 2012; and (2) the two significant deficiencies GAO identified in SEC's internal control over financial reporting on its budgetary resources and property and equipment. This report (1) presents additional information regarding the significant deficiencies GAO identified in their Nov. 2012 report on the results of their SEC financial audit, along with related new recommendations; (2) communicates other less significant control deficiencies GAO identified in SEC's internal controls during their FY 2012 audit along with their related recommended corrective actions; and (3) provides an overview of the status of GAOäó»s prior recommendations reported as new or open in their April 13, 2012, SEC management report. Figure. This is a print on demand report.

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