Information Security: SEC Improved Control of Financial Systems but Needs to Take Additional Actions, Report to the Chairman, U.S. Securities and Exchange Commission   [open pdf - 2MB]

"Securities and Exchange Commission (SEC) enforces securities laws, issues rules and regulations that provide protection for investors, and helps to ensure that securities markets are fair and honest. SEC uses 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. Pursuant to statutory authority, GAO [Government Accountability Office] assesses the effectiveness of SEC's internal control structure and procedures for financial reporting. As part of its audit of SEC's fiscal years 2016 and 2015 financial statements, GAO assessed whether controls were effective in protecting the confidentiality, integrity, and availability of key financial systems and information. To do this, GAO examined SEC's information security policies and procedures, tested controls, and interviewed key officials on whether controls were in place, adequately designed, and operating effectively. In addition to the 11 prior recommendations that have not been fully implemented, GAO recommends that SEC take 13 actions to address newly identified control deficiencies and 2 actions to more fully implement its information security program. In commenting on a draft of this report, SEC concurred with GAO's recommendations."

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Government Accountability Office: http://www.gao.gov/
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