Reporting requirements (101 - 110 of 226 items)
Financial Audit: Federal Deposit Insurance Corporation Funds' 2001 and 2000 Financial Statements
GAO-02-633: Published: May 21, 2002. Publicly Released: May 21, 2002.
GAO audited the financial statements for the three funds administered by the Federal Deposit Corporation for fiscal years 2000 and 1999 and the related statements of activities and cash flows. GAO found that (1) the financial statements were presented fairly in conformity with U.S. generally accepted accounting principles, (2) the Foundation had effective internal control over financial reporting...
Highlights of GAO's Corporate Governance, Transparency and Accountability Forum
GAO-02-494SP: Published: Mar 5, 2002. Publicly Released: Mar 5, 2002.
The recent sudden and largely unexpected bankruptcy of the Enron Corporation, and financial difficulties experienced by several other large corporations have resulted in substantial losses to employees and shareholders. Many believe that the decline of Enron and other instances of financial statement earnings restatements and bankruptcies have seriously undermined investor confidence in the nation...
Federal Reserve Banks: Areas for Improvement in Computer Controls
GAO-02-266R: Published: Dec 10, 2001. Publicly Released: Dec 10, 2001.
As part of its audit of the U.S. government's fiscal year 2000 financial statements, GAO reviewed computer controls over key financial systems maintained and operated by the Federal Reserve Banks (FRB) on behalf of the Department of the Treasury's Financial Management Service (FMS) and the Bureau of the Public Debt (BPD). GAO identified opportunities to improve general controls related to access a...
Lost Security Holders: SEC Should Use Data to Evaluate Its 1997 Rule
GAO-01-978: Published: Sep 28, 2001. Publicly Released: Sep 28, 2001.
One in eight Americans are entitled to unclaimed and abandoned assets, according to the National Association of Unclaimed Property Administrators. These unclaimed and abandoned assets include savings and checking accounts, securities, paychecks, insurance settlements, and utility and rental deposits. Most of this money is unclaimed because the owner moved and simply forgot about the account, chang...
Securities and Exchange Commission: Reviews of Accounting Matters Related to Public Filings
GAO-01-718: Published: Jun 14, 2001. Publicly Released: Jun 14, 2001.
This report reviews the Securities and Exchange Commission's (SEC) resolution of accounting issues submitted by companies that have or are contemplating publicly traded securities. Companies are required by law to register their securities with SEC by filing a registration statement. This statement must contain financial and other information on the securities and the issuer. SEC's Office of the C...
Financial Services Regulators: Better Information Sharing Could Reduce Fraud
GAO-01-478T: Published: Mar 6, 2001. Publicly Released: Mar 6, 2001.
The sharing of regulatory and criminal history data among financial services regulators can reduce fraudulent activities. GAO recently reported on several instances in which unscrupulous brokers moved from one financial industry to another. This testimony focuses on (1) systems used by financial regulators for tracking regulatory history data, (2) regulatory history data needed to help prevent ro...
Financial Audit: Accounting and Internal Control Issues Identified During GAO's 1999 FDIC Financial Statement Audits
AIMD-00-271R: Published: Aug 11, 2000. Publicly Released: Aug 11, 2000.
Pursuant to a legislative requirement, GAO provided information on internal control weaknesses identified during GAO's audits of the Federal Deposit Insurance Corporation's (FDIC) 1999 financial statements.GAO noted that there were: (1) losses in the securitization-related escrow account; (2) errors in the allowance calculation for FDIC receivables; and (3) weaknesses with account transaction cont...
Financial Audit: Federal Deposit Insurance Corporation's 1999 and 1998 Financial Statements
AIMD-00-157: Published: May 26, 2000. Publicly Released: May 26, 2000.
Pursuant to a legislative requirement, GAO reviewed the financial statements of the Bank Insurance Fund, the Savings Association Insurance Fund, and the Federal Savings and Loan Insurance Corporation Resolution Fund for the years ended December 31, 1999 and 1998. GAO also reviewed: (1) the Federal Deposit Insurance Corporation (FDIC) management's assertions regarding the effectiveness of its inter...
Securities Exchange Act: Review of Reporting Under Section 10A
AIMD-00-54R: Published: Feb 4, 2000. Publicly Released: Feb 4, 2000.
Pursuant to a congressional request, GAO reviewed the reporting procedures under Section 10A of the Securities Exchange Act of 1934.GAO noted that: (1) according to the Securities and Exchange Commission's (SEC) records, 6 Section 10A reports have been filed through December 14, 1999; (2) the Section 10A reporting requirements first became effective for fiscal years beginning on or after January 1...
Long-Term Capital Management: Regulators Need to Focus Greater Attention on Systemic Risk
GGD-00-3: Published: Oct 29, 1999. Publicly Released: Nov 19, 1999.
Pursuant to a congressional request, GAO provided information on Long Term Capital Management (LTCM) funds, focusing on: (1) how LTCM's positions became large and leveraged enough to be deemed a potential systemic threat; (2) what federal regulators knew about LTCM and when they found out about its problems; (3) what the extent of coordination among regulators was; and (4) whether regulatory autho...