11 April 2012
Federal Reserve Banks: Areas for Improvement in Information Systems Controls
This report discusses the results of a review of information systems controls over key financial systems maintained and operated by the Federal Reserve Banks (FRB) in relation to the Schedules of Federal Debt. It is concluded that the BPD maintained effective internal control over financial reporting but that certain information systems deficiencies warrant the attention and action of management nevertheless.
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Gary T Engel
US Government Accountability Office (GAO), Washington, DC