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Opportunities Exist for SEC to Improve Its Controls over Financial Systems and Data
The SEC is responsible for enforcing securities laws, issuing rules and regulations that provide protection for investors, and helping to ensure that the securities markets are fair and honest ... . In carrying out its mission, the SEC relies on computerized information systems to collect, process, and store sensitive information, including financial data. Having effective information security controls ... in place is essential to protecting these systems and the information they contain. <br/> This report details weaknesses GAO identified in the information security program at SEC during its audit ... IT security basics under scrutiny ... Financial audit by US GAO was accompanied by an IT examination focused on information security measures in the Securities and Exchange Commission (SEC). GAO found that SEC’s systems could ... be compromised, because of risks jeopardizing the confidentiality, integrity, and availability of sensitive financial information.
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The SEC is responsible for enforcing securities laws, issuing rules and regulations that provide protection for investors, and helping to ensure that the securities markets are fair and honest ... . In carrying out its mission, the SEC relies on computerized information systems to collect, process, and store sensitive information, including financial data. Having effective information security controls ... in place is essential to protecting these systems and the information they contain. <br/> This report details weaknesses GAO identified in the information security program at SEC during its audit ... IT security basics under scrutiny ... Financial audit by US GAO was accompanied by an IT examination focused on information security measures in the Securities and Exchange Commission (SEC). GAO found that SEC’s systems could ... be compromised, because of risks jeopardizing the confidentiality, integrity, and availability of sensitive financial information.
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General Accountability Office
, issued in 2016
Risk cases: 5
VAT risk assessment - better use made of information generated by inspections on company premise
Tax inspections may add up to the VAT risk assessment, but... The audit by the German BRH shows that general tax inspections on company premises can also reveal facts that may be relevant for VAT risk assessment. 'However, this information cannot be adequately used for VAT risk assessment because it is not available in electronic format.'
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Tax inspections may add up to the VAT risk assessment, but... The audit by the German BRH shows that general tax inspections on company premises can also reveal facts that may be relevant for VAT risk assessment. 'However, this information cannot be adequately used for VAT risk assessment because it is not available in electronic format.'
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Bundesrechnungshof
, issued in 2016
Risk cases: 1
Audit of the Government, Government-guaranteed and Municipal Debt Management Information Systems in the Ministry of Finance of the Republic of Bulgaria
The main audit question studied during the audit was: Are the government, government-guaranteed (SDMS) and municipal debt management information systems (CMDR) at the Ministry of Finance effective ... ? The audit covered the period from 01.01.2013 to 31.12.2013 and investigated four major areas: IT system strategy and general management; IT security and controls against disasters; Operational controls ... and Documentation; Application Controls. ... ... Even effective and modern IT systems require improvements and updates to ensure their security and accountability ... For the management of the government, government-guaranteed and municipal debt the Ministry of Finance has established an advanced integrated information infrastructure. According to Bulgarian SAI ... the established system is effective and provides updated, complete and correct information. Nevertheless the audit report points out areas of security, application controls as well as documentation as the subjects ... that need further improvement and optimization.
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The main audit question studied during the audit was: Are the government, government-guaranteed (SDMS) and municipal debt management information systems (CMDR) at the Ministry of Finance effective ... ? The audit covered the period from 01.01.2013 to 31.12.2013 and investigated four major areas: IT system strategy and general management; IT security and controls against disasters; Operational controls ... and Documentation; Application Controls. ... ... Even effective and modern IT systems require improvements and updates to ensure their security and accountability ... For the management of the government, government-guaranteed and municipal debt the Ministry of Finance has established an advanced integrated information infrastructure. According to Bulgarian SAI ... the established system is effective and provides updated, complete and correct information. Nevertheless the audit report points out areas of security, application controls as well as documentation as the subjects ... that need further improvement and optimization.
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Bulgarian National Audit Office
, issued in 2014
Risk cases: 3
Management of Police Information Resources
Police tasks of the necessary data are processed departmental registers, information systems, automated data processing systems and networks where information is stored, processed and transferred ... to the classified information. The police department has all of these information resources, so the audit focused on the activities and actions of the Department to ensure planning and organizing of the recourses ... , monitoring, evaluation and coordination and other aspects of registers and IS strategic management. The audited period was 2012-2014. For the analysis, there were used previous data and data of 2015 ... ... Fundamentals of IT organisation ... Review by SAI Lithuania makes readers aware that nowadays it is difficult to develop a larger IT system without whole conceptual infrastracture: planning composed into strategy of the organisation ... and well understood architecture of information. Well functioning IT management structures, which on the other hand may sound trivial, were proved here as the key to success.
Full description
Police tasks of the necessary data are processed departmental registers, information systems, automated data processing systems and networks where information is stored, processed and transferred ... to the classified information. The police department has all of these information resources, so the audit focused on the activities and actions of the Department to ensure planning and organizing of the recourses ... , monitoring, evaluation and coordination and other aspects of registers and IS strategic management. The audited period was 2012-2014. For the analysis, there were used previous data and data of 2015 ... ... Fundamentals of IT organisation ... Review by SAI Lithuania makes readers aware that nowadays it is difficult to develop a larger IT system without whole conceptual infrastracture: planning composed into strategy of the organisation ... and well understood architecture of information. Well functioning IT management structures, which on the other hand may sound trivial, were proved here as the key to success.
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National Audit Office of the Republic of Lithuania
, issued in 2015
Risk cases: 4
Management and protection of assets in the field of the information-communication technologies at the ME SR
The Supreme Audit office of the Slovak Republic (SAO SR) has conducted the audit at the Ministry of Environment of the Slovak Republic (ME SR) for the audit period 2011 and 2012 to examine ... the compliance with the generally binding legal regulations and the general statues in the field of the information-communication technologies (ICT) and the information systems of the public administration (ISPA ... ) with emphasis on the use of the information technology (IT) services provided by the third parties. The vast amount of irregularities was found, especially many cases of failure to comply with the standards ... ... Started from contracting, ended in security ... The perceptive and filled with findings audit - conducted by the Slovak SAI - discovered the list of issues which started in careless contracting procedures, failure to update the development concept ... and ended in exposing the organization to high security risks.
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The Supreme Audit office of the Slovak Republic (SAO SR) has conducted the audit at the Ministry of Environment of the Slovak Republic (ME SR) for the audit period 2011 and 2012 to examine ... the compliance with the generally binding legal regulations and the general statues in the field of the information-communication technologies (ICT) and the information systems of the public administration (ISPA ... ) with emphasis on the use of the information technology (IT) services provided by the third parties. The vast amount of irregularities was found, especially many cases of failure to comply with the standards ... ... Started from contracting, ended in security ... The perceptive and filled with findings audit - conducted by the Slovak SAI - discovered the list of issues which started in careless contracting procedures, failure to update the development concept ... and ended in exposing the organization to high security risks.
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Supreme Audit Office of the Slovak Republic
, issued in 2012
Risk cases: 4
Is Cybercrime Combated Effectively
Good coordination needed to fight cybercrime SAI Lithuania noticed that with the growing amount of cybercrimes, the society must be prepared to recognise the threats of cybercrime and be able to protect itself from them. There is a number of forces capable of preventing and investigating this type of crime, but auditors identified shortcomings in cybercrime prevention and investigation processes, starting from lack of common taxonomy and criteria.
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Good coordination needed to fight cybercrime SAI Lithuania noticed that with the growing amount of cybercrimes, the society must be prepared to recognise the threats of cybercrime and be able to protect itself from them. There is a number of forces capable of preventing and investigating this type of crime, but auditors identified shortcomings in cybercrime prevention and investigation processes, starting from lack of common taxonomy and criteria.
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National Audit Office of the Republic of Lithuania
, issued in 2020
Risk cases: 6
Centralisation of support services of state authorities
Most goals of centralisation of support services were achived Centralisation of support services of state authorities has generally been successful, the quality of accounting has improved, and accounting has become more effective. The objective of saving on costs was not achieved. It would be beneficial to analyse the implementation of a similar model in local governments, i.e. concentrating the accounting services to central units in order to improve the quality of accounting and make work more effective. It would allow saving working time on doing routine accounting procedures and use this time more for financial management, which helps to use public funds better and more expediently.
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Most goals of centralisation of support services were achived Centralisation of support services of state authorities has generally been successful, the quality of accounting has improved, and accounting has become more effective. The objective of saving on costs was not achieved. It would be beneficial to analyse the implementation of a similar model in local governments, i.e. concentrating the accounting services to central units in order to improve the quality of accounting and make work more effective. It would allow saving working time on doing routine accounting procedures and use this time more for financial management, which helps to use public funds better and more expediently.
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National Audit Office of Estonia
, issued in 2018
Risk cases: 2
Working of Inland Container Depots and Container Freight Stations
NEW! Online report on audit of SAI India With this first digital audit report of the Comptroller and Auditor General of India, new chapter has been opened in our profession: the online form is primary versus printable pdf. Advantages: high level of readability, live responsive charts, easy browsing and search of what users find interesting. The reported performance audit concerned 'dry ports', or multimodal logistics centres, which play growing role in domestic and international trade. It shows how gaps in concept and lax attitude to internal control can result on capacities, speed of trade, and enviromental safety.
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NEW! Online report on audit of SAI India With this first digital audit report of the Comptroller and Auditor General of India, new chapter has been opened in our profession: the online form is primary versus printable pdf. Advantages: high level of readability, live responsive charts, easy browsing and search of what users find interesting. The reported performance audit concerned 'dry ports', or multimodal logistics centres, which play growing role in domestic and international trade. It shows how gaps in concept and lax attitude to internal control can result on capacities, speed of trade, and enviromental safety.
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Comptroller and Auditor General of India
, issued in 2017
Risk cases: 5
WannaCry Cyber Attack and the NHS
Why the British NHS became a victim of WannaCry The NAO's investigation points at the problem of insufficient powers of the cybersecurity coordinator across the health organisation. As a result no remedial actions were taken, and the cyber attack succeeded thanks to neglected precautions.
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Why the British NHS became a victim of WannaCry The NAO's investigation points at the problem of insufficient powers of the cybersecurity coordinator across the health organisation. As a result no remedial actions were taken, and the cyber attack succeeded thanks to neglected precautions.
Full description
National Audit Office
, issued in 2017
Risk cases: 3
RURAL BROADBAND DEPLOYMENT: Improved Consistency with Leading Practices Could Enhance Management of Loan and Grant Programs
Green Book can help in broadband development US GAO applied its COSO based Green Book to review consistency of support programs for rural information infrastructure.
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Green Book can help in broadband development US GAO applied its COSO based Green Book to review consistency of support programs for rural information infrastructure.
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US Government Accountability Office
, issued in 2017
Risk cases: 7