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Federal Reserve Banks: Areas for Improvement in Computer Controls

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Report Type Reports and Testimonies
Report Date Sept. 15, 1999
Report No. AIMD-99-280
Subject
Summary:

This report follows up on efforts by the Federal Reserve Banks to address vulnerabilities that GAO cited in a fiscal year 1997 audit. (See GAO/AIMD-99-6, Oct. 1998.) GAO also discusses the effectiveness of general and application controls that support key automated financial systems at the Treasury's Financial Management Service and the Bureau of the Public Debt--systems that are run by the Federal Reserve Banks. Overall, GAO found that the Federal Reserve Banks had implemented effective general and application controls. However, GAO identified vulnerabilities involving general and application computer controls--shortcomings that, although not having a significant adverse impact on key systems at the Financial Management Service and the Bureau of the Public Debt, did warrant attention and action from the Federal Reserve Banks.

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