Internal controls (21 - 30 of 44 items)
Private Equity: Recent Growth in Leveraged Buyouts Exposed Risks That Warrant Continued Attention
GAO-08-885: Published: Sep 9, 2008. Publicly Released: Oct 7, 2008.
The increase in leveraged buyouts (LBO) of U.S. companies by private equity funds prior to the slowdown in mid-2007 has raised questions about the potential impact of these deals. Some praise LBOs for creating new governance structures for companies and providing longer term investment opportunities for investors. Others criticize LBOs for causing job losses and burdening companies with too much d...
Fair Labor Standards Act: Better Use of Available Resources and Consistent Reporting Could Improve Compliance
GAO-08-962T: Published: Jul 15, 2008. Publicly Released: Jul 15, 2008.
Over 130 million workers are protected from substandard wages and working conditions by the Fair Labor Standards Act (FLSA). This act contains specific provisions to ensure that workers are paid the federal minimum wage and for overtime, and that youth are protected from working too many hours and from hazardous conditions. The Department of Labor's Wage and Hour Division (WHD) is responsible for...
Nuclear Security: NRC and DHS Need to Take Additional Steps to Better Track and Detect Radioactive Materials
GAO-08-598: Published: Jun 19, 2008. Publicly Released: Jul 14, 2008.
Concerns have grown that terrorists could use radioactive materials and sealed sources (materials sealed in a capsule) to build a "dirty bomb"-- a device using conventional explosives to disperse radioactive material. In 2003, GAO found weaknesses in the Nuclear Regulatory Commission's (NRC) radioactive materials licensing process and made recommendations for improvement. For this report, GAO asse...
Utility Regulation: Opportunities Exist to Improve Oversight
GAO-08-752T: Published: May 1, 2008. Publicly Released: May 1, 2008.
Under the Public Utility Holding Company Act of 1935 (PUHCA 1935) and other laws, federal agencies and state commissions have traditionally regulated utilities to protect consumers from supply disruptions and unfair pricing. The Energy Policy Act of 2005 (EPAct) repealed PUHCA 1935, removing some limitations on the companies that could merge with or invest in utilities, and leaving the Federal Ene...
Securities and Exchange Commission: Opportunities Exist to Improve Oversight of Self-Regulatory Organizations
GAO-08-33: Published: Nov 15, 2007. Publicly Released: Dec 17, 2007.
Self-regulatory organizations (SRO) are exchanges and associations that operate and govern the markets, and that are subject to oversight by the Securities and Exchange Commission (SEC). Among other things, SROs monitor the markets, investigate and discipline members involved in improper trading, and make referrals to SEC regarding suspicious trades by nonmembers. For industry self-regulation to f...
Transportation Security Administration's Processes for Designating and Releasing Sensitive Security Information
GAO-08-232R: Published: Nov 30, 2007. Publicly Released: Nov 30, 2007.
Since the September 11, 2001, terrorist attacks, federal agencies have faced the challenge of protecting sensitive information from terrorists and others without a need to know while sharing this information with parties who are determined to have such a need. One form of protection involves identifying and marking such information sensitive but unclassified--information that is generally restrict...
Financial Regulation: Industry Trends Continue to Challenge the Federal Regulatory Structure
GAO-08-32: Published: Oct 12, 2007. Publicly Released: Oct 12, 2007.
As the financial services industry has become increasingly concentrated in a number of large, internationally active firms offering an array of products and services, the adequacy of the U.S. financial regulatory system has been questioned. GAO has identified the need to modernize the financial regulatory system as a challenge to be addressed in the 21st century. This report, mandated by the Finan...
Financial Audit: Special Counsel Expenditures for the Six Months Ended March 31, 2007
GAO-07-1205: Published: Sep 28, 2007. Publicly Released: Sep 28, 2007.
This report presents the results of our audit of expenditures reported by the Office of Special Counsel Patrick J. Fitzgerald for the 6 months ended March 31, 2007. The Department of Justice and the independent counsels are required under 28 U.S.C. 594 (d)(2), (h) and 596 (c)(1) to report on a semiannual basis the expenditures from a permanent, indefinite appropriation established within the Depar...
Transportation Security Administration: Clear Policies and Oversight Needed for Designation of Sensitive Security Information
GAO-05-677: Published: Jun 29, 2005. Publicly Released: Jul 29, 2005.
Concerns have arisen about whether the Transportation Security Administration (TSA) is applying the Sensitive Security Information (SSI) designation consistently and appropriately. SSI is one category of "sensitive but unclassified" information--information generally restricted from public disclosure but that is not classified. GAO determined (1) TSA's SSI designation and removal procedures, (2) T...
SEC Mutual Fund Oversight: Positive Actions Are Being Taken, but Regulatory Challenges Remain
GAO-05-692T: Published: Jun 7, 2005. Publicly Released: Jun 7, 2005.
Trading abuses--including market timing and late trading violations--uncovered among some of the most well-known companies in the mutual fund industry permitted favored customers to profit at the expense of long-term shareholders. Questions have also been raised as to why the New York State Office of the Attorney General identified the trading abuses in September 2003 before the industry's primary...