Skip to main content

Northeast Regional Office

Jan. 13, 1998

This document is an HTML formatted version of a printed document. The printed document may contain agency comments, charts, photographs, appendices, footnotes and page numbers which may not be reproduced in this electronic version. If you require a printed version of this document contact the 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.


Audit Report No. 270
January 13, 1998

Limited Audit of Financial and Administrative Controls


The Office of Inspector General conducted a limited audit of the financial and administrative internal controls of the Northeast Regional Office (NERO). The audit procedures were limited to analyzing representations made by NERO staff, reviewing supporting documentation, and conducting some tests 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 polices and procedures.


The Northeast Regional Office is located in New York City. Assisted by the Boston and Philadelphia District Offices, it is responsible for administering Commission programs, subject to Commission oversight, in the states of Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia. In carrying out its responsibilities, NERO 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.


During on the limited audit described above, no material weaknesses in the internal control structure involving NERO’s financial and administrative functions came to our attention. Some minor internal control weaknesses were verbally provided to NERO management. NERO 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 July 1997 to November 1997.

Return to Top