Sec Year 2000 Report: Future Reports Could Provide More Detailed Information,
Abstract
On July 21,1997, you asked us to review the Securities and Exchange Commission's (SEC) report on the status of its efforts to ensure that the computer systems it uses, as well as those used by participants in the securities industry, are ready for the date changeover in the year 2000. SEC issued its report in response to your request that it report annually on the progress made in addressing this issue. Your letter specifically requested that we review (1) SEC'S June 1997 report on the status of Year 2000 compliance by SEC, the securities industry, and public companies to identify any ways that future reports might be improved; (2) the adequacy of SEC'S oversight of the Year 2000 remediation efforts directed at its internal systems, self-regulatory organizations (SRO), broker-dealers, and other regulated entities; and (3) the guidance SEC has provided to public companies for disclosing Year 2000 remediation efforts. We agreed with your office that this report would focus only on ways to improve the content and format of future SEC Year 2000 reports to Congress, to provide SEC as much time as possible to incorporate any changes into its next report. We intend to address the remaining issues discussed in your letter separately in a subsequent review.
Document Details
- Document Type
- Technical Report
- Publication Date
- Mar 01, 1998
- Accession Number
- ADA340883
Entities
People
- Cody Goebel
- Gary Mountjoy
- Jean-paul Reveyoso
- John Stephenson
- Michael Burnett
Organizations
- United States Government Accountability Office