funsec mailing list archives
Re: Love in the time of audits
From: Nick FitzGerald <nick () virus-l demon co uk>
Date: Tue, 07 Jul 2009 10:41:12 +1200
Rob, grandpa of Ryan, Trevor, Devon & Hannah wrote:
... She took her concerns to her supervisor, who was working under the assistant director of the department. The assistant director, who is no longer with the SEC, later married the perpetratorTMs niece. The investigatorTMs claims turned out to be consistent with the case the Justice Department eventually brought against the perpetrator. When the investigator brought her concerns to her supervisor, however, he directed her to concentrate on an investigation of mutual funds.
I thought the power of accounting systems was that they were immune to a single inside bad actor due to the distribution of checks and balances, meaning that a single bad actor cannot possibly cover all the ways "irregular" activities would be uncovered. Apparently such considerations don't enter into the design and operation of SEC auditing and/or the management and reporting structures thereof... You'd like to think that institutions such as the SEC were built in such a way that "evidence-backed reasonable suspicion" was heavily rewarded, rather than being able to be swept under the carpet by a single more senior staff member. Maybe a revamped SEC, not labouring under what must now (even in the US among thinking folk) be the totally bankrupt notion that "small government" is necessarily better, has a chance of getting these kinds of things right (or, at least, a lot better)??? Regards, Nick FitzGerald _______________________________________________ Fun and Misc security discussion for OT posts. https://linuxbox.org/cgi-bin/mailman/listinfo/funsec Note: funsec is a public and open mailing list.
Current thread:
- Love in the time of audits Rob, grandpa of Ryan, Trevor, Devon & Hannah (Jul 06)
- Re: Love in the time of audits Steve Pirk (Jul 06)
- Re: Love in the time of audits Nick FitzGerald (Jul 06)