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GAO: Federal Reserve Should Address Info Systems General Control Security, Configuration Management Issue

GAOThe U.S. Government Accountability Office has reached out to each Federal Reserve Bank and provided four recommendations to address the three areas of concern found on the information systems controls maintained by the Fed.

GAO identified security and configuration management-related issues on the information systems during its audit of the fiscal 2014 and 2015 Schedule of Federal Debt managed by the Treasury Department‘s Bureau of the Fiscal Service, the agency said Tuesday.

Louise Roseman, Reserve Bank Operations and Payment Systems director, said that FRB sees control issues as serious matters and are conducting corrective action on the identified information systems general control issues.

Follow up on the status of the corrective actions will be done during the fiscal year 2016 Schedule of Federal Debt audit.

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