On Nov. 16, 2009, an opinion was issued on the SECAis FY 2009 and 2008 financial statements. Also issued was an opinion on the effectiveness of SECAis internal controls over financial reporting as of Sept. 30, 2009, and an evaluation of SECAis compliance with selected provisions of laws and regulations during FY 2009. This report presents: (1) recommendations related to the significant deficiencies reported and discussed in the opinion report; (2) less significant internal control issues identified during the FY 2009 audit of SECAis internal controls and accounting procedures; (3) the status of the recommendations reported as open in an April 2, 2009 management report; and (4) the status of the security weaknesses in info. systems controls. Charts and tables.Investment activity related to collections of disgorgements and penalties were not captured in the general ledger at the enforcement ... SEC invests disgorgement funds in Treasury securities and managed such investments using spreadsheets. ... Use of this spreadsheet increases the risk of incomplete recording of investment and other data that would not be detected in ... Given the use of two manual entry points for similar information, significant analysis, reconciliation, and review areanbsp;...
|Author||:||James R. Dalkin|
|Publisher||:||DIANE Publishing - 2010-08|