Internal controls (111 - 120 of 404 items)
Federal Reserve Banks: Areas for Improvement in Information Security Controls
GAO-09-722R: Published: May 29, 2009. Publicly Released: May 29, 2009.
In connection with fulfilling our requirement to audit the financial statements of the U.S. government, we audited and reported on the Schedules of Federal Debt Managed by the Bureau of the Public Debt (BPD) for the fiscal years ended September 30, 2008 and 2007. As part of these audits, we performed a review of the general and application information security controls over key financial systems m...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2008 and 2007 Financial Statements
GAO-09-535: Published: May 28, 2009. Publicly Released: May 28, 2009.
GAO is required to annually audit the financial statements of the Deposit Insurance Fund (DIF) and FSLIC Resolution Fund (FRF), which are administered by the Federal Deposit Insurance Corporation (FDIC). GAO is responsible for obtaining reasonable assurance about whether FDIC's financial statements for DIF and FRF are presented fairly in all material respects, in conformity with U.S. generally acc...
Securities and Exchange Commission: Greater Attention Is Needed to Enhance Communication and Utilization of Resources in the Division of Enforcement
GAO-09-613T: Published: May 7, 2009. Publicly Released: May 7, 2009.
In recent years, questions have been raised about the capacity of the Securities and Exchange Commission's (SEC) Division of Enforcement (Enforcement) to manage its resources and fulfill its law enforcement and investor protection responsibilities. This testimony focuses on (1) the extent to which Enforcement has an appropriate mix of resources; (2) considerations affecting penalty determinations,...
Securities and Exchange Commission: Greater Attention Needed to Enhance Communication and Utilization of Resources in the Division of Enforcement
GAO-09-358: Published: Mar 31, 2009. Publicly Released: May 6, 2009.
The Securities and Exchange Commission's (SEC) Division of Enforcement (Enforcement) plays a key role in meeting the agency's mission to protect investors and maintain fair and orderly markets. In recent years, Enforcement has brought cases yielding record civil penalties, but questions have been raised about its capacity to manage its resources and fulfill its law enforcement and investor protect...
U.S. Customs and Border Protection's Secure Border Initiative Fiscal Year 2009 Expenditure Plan
GAO-09-274R: Published: Apr 30, 2009. Publicly Released: Apr 30, 2009.
This letter formally transmits the summary of an oral briefing we gave in response to a mandate in the Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009, and subsequent agency comments. This mandate required the Department of Homeland Security (DHS) to prepare an expenditure plan that satisfied 12 specified conditions, and for the plan to be submitted to and appro...
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-09-376R: Published: Apr 2, 2009. Publicly Released: Apr 2, 2009.
On November 14, 2008, we issued our opinion on the U.S. Securities and Exchange Commission's (SEC) fiscal years 2008 and 2007 financial statements. We also issued our opinion on the effectiveness of SEC's internal control over financial reporting (including safeguarding of assets) and over compliance as of September 30, 2008, and our evaluation of SEC's compliance with selected provisions of laws...
Troubled Asset Relief Program: Capital Purchase Program Transactions for the Period October 28, 2008 through March 20, 2009 and Information on Financial Agency Agreements, Contracts, and Blanket Purchase Agreements Awarded as of March 13, 2009 (GAO-09-522SP, March 2009), an E-supplement to GAO-09-504
GAO-09-522SP: Published: Mar 31, 2009. Publicly Released: Mar 31, 2009.
This is an E-Supplement to GAO-09-504. It presents a listing of capital purchases made in qualifying financial institutions (QFIs) by the Department of the Treasury's (Treasury) Office of Financial Stability under the Capital Purchase Program (CPP). CPP is one of the programs Treasury created under its Troubled Asset Relief Program (TARP) authorities. CPP provides QFIs with additional capital thro...
Troubled Asset Relief Program: March 2009 Status of Efforts to Address Transparency and Accountability Issues
GAO-09-504: Published: Mar 31, 2009. Publicly Released: Mar 31, 2009.
GAO's third report on the Troubled Asset Relief Program (TARP) follows up on recommendations from the January 28, 2009, report (GAO-09-296). It also reviews (1) the nature and purpose of activities that had been initiated under TARP as of March 27, 2009; (2) the Department of Treasury's Office of Financial Stability's (OFS) hiring efforts, use of contractors, and progress in developing an internal...
Troubled Asset Relief Program: Status of Efforts to Address Transparency and Accountability Issues
GAO-09-539T: Published: Mar 31, 2009. Publicly Released: Mar 31, 2009.
This testimony discusses our work on the Troubled Asset Relief Program (TARP), under which the Department of the Treasury (Treasury) has the authority to purchase and insure up to $700 billion in troubled assets held by financial institutions through its Office of Financial Stability (OFS). As Congress may know, Treasury was granted this authority in response to the financial crisis that has threa...
Securities and Exchange Commission: Oversight of U.S. Equities Market Clearing Agencies
GAO-09-318R: Published: Feb 26, 2009. Publicly Released: Mar 26, 2009.
An effective clearance and settlement process is vital to the functioning of equities markets. When investors agree to trade an equity security, the purchaser promises to deliver cash to the seller and the seller promises to deliver the security to the purchaser. The process by which the seller receives payment and the buyer, the securities, is known as clearance and settlement. In the United Stat...