Fourth Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Commission - 2013 Page 9
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37F
R
I
SEC O
R
R
OURTH
EPORT ON THE
MPLEMENTATION OF
RGANIZATIONAL
EFORM
ECOMMENDATIONS
• With the transition to FSSP, the procurement system now interfaces with the financial
system. A reconciliation process is in place to detect any interface errors between the two
systems.
• OFM enhanced the process for monitoring obligations to more effectively identify
amounts to be de-obligated.
• The SEC is implementing tighter control over the physical inventory and asset
monitoring processes to ensure property and equipment asset records are accurate,
complete, and timely.
This includes a quarterly physical inventory and monthly
monitoring of additions and disposals.
In addition to addressing previously-identified deficiencies, the SEC began implementing more
rigorous continuous monitoring and internal controls programs. In FY13, the SEC initiated a
quarterly confirmation process of internal controls over financial reporting. This process will
enable management to monitor the effectiveness of SEC’s controls more proactively, and to self-
identify and correct weaknesses in controls to prevent them from deteriorating over time.
Business Process and Technology Improvements
Filing Fees
OFM continues to implement significant business process and technology improvements in its
filing fees program. These enhancements include the following:
• Conducting an outreach program to the largest EDGAR filers to provide clarity regarding
more complex filing rules, thereby proactively reducing the number of filing errors.
• Promoting customer self-service support, such as filer account balance queries via the
telephone and electronic refund requests via the EDGAR Filer application.
• Adding a metrics-driven workflow operation that eliminates all paper processing for
reviewing filings, billing, and refunding registrants, resulting in more timely service to
filers and improved operating efficiencies.
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