4.2: Financial Management and Internal Controls

Financial management and internal controls are sound.

Other Information:

Supporting Initiatives: 1. Audited Financial Statements: Under the authority of the Accountability for Taxpayer Dollars Act, the SEC will prepare its first audited financial statements, which will cover fiscal year 2004. As part of these efforts, the agency will implement a new disgorgement system for tracking penalties and complete the certification and accreditation of general support and financial management systems. 2. Section 31 Fees: The SEC adopted Rule 31 which establishes an auditable system forthe collection of payments made pursuantto Section 31 of the 1934 Exchange Act. 3. Performance Budgeting: The agency will explore newways to monitor and evaluate agency performance and integrate budget and performance systems. New performance budgeting systems should help the agency clarify and delineate links between the risksit identifies, the strategies it will employ to addressthose risks, and the allocation of budgetary resources.

Indicator(s):

Indicator:1

Content