Who audits the auditor?
Onésimo Alvarez-Moro
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The Securities and Exchange Commission has been plagued by weak financial management that caused budget overruns of nearly $50 million in two years, congressional auditors said in a report released Friday.
The report by Congress' Government Accountability Office found "ineffective management controls" at the SEC, the agency that enforces rules mandating strong internal controls for public companies. The report amplified a GAO study issued in May that cited weaknesses in the agency's preparation of financial statements and the security of its information.
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