Home / Civilian / GAO Finds Unresolved Issues with Federal Reserve Security Controls

GAO Finds Unresolved Issues with Federal Reserve Security Controls

Site: audits.ga.gov

A recent audit found the Federal Reserve Systems’ information systems to be deficient, citing issues from both 2011 and previous years, FierceGovernment IT reports.

The Government Accountability Office issued a report on its audit Wednesday and made recommendations for how the Fed can proceed in addressing the ongoing security control issues.

GAO said that despite the Fed’s efforts to address system problems from previous years, additional actions are needed to fully address open information system recommendations from prior audits.

The Federal Reserve Information Technology Computing Centers maintain Fed’s main financial networks and processes Fed transactions.

GAO said deficiencies were minimized through the banks’ physical security equipments that monitor use and system activity.

The system also compensates management and reconciles control, flagging possible schedule of federal debt misstatements.

Although the cited issues would not be classified as a material weakness or significant deficiency, GAO said it is still crucial to follow through on necessary corrections.

In March, the Fed began to use Twitter in order to be more transparent, featuring news releases, balance sheets and termination of enforcement actions.

Check Also

GAO: Air Force to Deploy New Combat Rescue Helicopters to Active Component by FY 2020

The Government Accountability Office has found that the U.S. Air Force intends to start fielding in fiscal 2020 new Combat Rescue Helicopters to replace aging HH-60G Pave Hawk helicopters that have recorded the most flight time when it comes to staff recovery missions. GAO said in a report published Thursday the service will initially deploy the new helicopters to the active component six years ahead of the reserve component and to the Air National Guard by 2027.

Leave a Reply

Your email address will not be published. Required fields are marked *