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United States Securities and Exchange Commission, Office of Inspector General,
Mail Stop 11-7, 450 Fifth Street N.W., Washington, D.C. 20549 or call (202)
942-4460.
FORT WORTH DISTRICT OFFICE
Audit Report No. 279
March 30, 1998
Limited Audit
of Financial and Administrative Controls
INTRODUCTION
The Office of Inspector General conducted a limited audit of the financial
and administrative internal controls of the Ft Worth District Office (FDO).
The audit procedures were limited to analyzing representations made by
the FDO staff, reviewing supporting documentation, and conducting some
test of transactions. The purpose of the audit was to provide the Commission
with negative assurance that the internal controls were adequate, being
implemented economically and efficiently, and in compliance with Commission
policies and procedures.1
BACKGROUND
The Ft Worth District Office has approximately sixty staff, and provides
support in carrying out Commission programs to the Central Regional Office
( located in Denver, Colorado). In carrying out its responsibilities, FWDO
exercises a broad range of financial and administrative functions, including
maintaining time and attendance records; procuring supplies and services;
arranging for staff travel; maintaining an inventory of property; and recording
budgeted and actual expenditures of the office.
AUDIT RESULTS
During the limited audit described above, no material weaknesses in
the internal control structure involving FWDO's financial and administrative
functions came to our attention. Some minor internal control weaknesses
were verbally provided to the FWDO management. FWDO generally concurred
with these findings and recommendations and agreed to implement them.
The audit was performed in accordance with generally accepted government
auditing standards from February to March 1998.
Endnote
1 Negative assurance means that no material internal control weaknesses came to our attention during our limited audit.
http://www.sec.gov/about/oig/audit/279fin.htm
