Financial Audit: Securities and Exchange Commission's Financial Statements for Fiscal Years 2007 and 2006 Page: 4 of 64
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Accountability * Integrity * Reliability
United States Government Accountability Office
Washington, DC 20548
November 16, 2007
The Honorable Christopher Cox
U.S. Securities and Exchange Commission
Dear Mr. Cox:
This report presents our opinion on whether the financial statements of
the Securities and Exchange Commission (SEC) for the fiscal years ended
September 30, 2007, and 2006 are presented fairly, in all material respects,
in conformity with U.S. generally accepted accounting principles. This
report also presents (1) our opinion on the effectiveness of SEC's internal
control over financial reporting and compliance as of September 30, 2007,
and (2) the results of our evaluation of SEC's compliance with selected
laws and regulations during 2007.
The Accountability of Tax Dollars Act of 2002 requires that SEC prepare
and submit to Congress and the Office of Management and Budget (OMB)
audited financial statements. We decided, under our audit authority, to
audit SEC's financial statements. We conducted this audit in accordance
with U.S. generally accepted government auditing standards and OMB
We are sending copies of this report to the Chairman and Ranking
Minority Members of the Senate Committee on Banking, Housing, and
Urban Affairs; the Senate Committee on Homeland Security and
Governmental Affairs; the House Committee on Financial Services; and
the House Committee on Oversight and Government Reform. We are also
sending copies to the Secretary of the Treasury, the Director of the Office
of Management and Budget, and other interested parties. In addition, this
report will be available at no charge on our Web site at
GAO-08-167 SEC's Financial Statements for Fiscal Years 2007 and 2006
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United States. Government Accountability Office. Financial Audit: Securities and Exchange Commission's Financial Statements for Fiscal Years 2007 and 2006, report, November 16, 2007; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc296564/m1/4/: accessed October 21, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.