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U.S. Securities and Exchange Commission - Fiscal Year 2013 Agency Financial Report

U.S. Securities and Exchange Commission - Fiscal Year 2013 Agency Financial Report

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U.S. Securities and Exchange Commission - Fiscal Year 2013 Agency Financial Report
U.S. Securities and Exchange Commission - Fiscal Year 2013 Agency Financial Report

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Published by: Vanessa Schoenthaler on Dec 17, 2013
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03/15/2014

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FISCAL YEAR 2013 AGENCY FINANCIAL REPORT
U.S. SECURITIES AND EXCHANGE COMMISSION
 
About This ReportCertificate of Excellence in Accountability Reporting
The U.S. Securities and Exchange Commission’s (SEC) fiscal year (FY) 2013  Agency Financial Report (AFR) provides financial and high-level performance results that enable the President, Congress and the public to assess the SEC’s accomplishments and understand its financial picture. This report satisfies the reporting requirements contained in the following laws and regulations:Accountability of Tax Dollars Act of 2002Chief Financial Officers Act of 1990, as amended by the Reports Consolidation Act of 2000 Dodd-Frank Wall Street Reform and Consumer Protection Act Section 922 Whistleblower Protection, and Section 963 Annual Financial Controls AuditFederal Financial Management Improvement Act of 1996Federal Managers Financial Integrity Act of 1982Government Management Reform Act of 1994GPRA Modernization Act of 2010Improper Payments Information Act of 2002, as amended by IPERA and IPERIA Office of Management and Budget Circular A-123,
Management’s Responsibility for Internal Controls
Office of Management and Budget Circular A-136,
Financial Reporting Requirements
Recovery Auditing Act, Section 831, Defense Authorization Act, for 2002
For the second year in a row, the SEC is producing an AFR, with a primary focus on financial results, and an
 Annual Performance Report (APR), which focuses on strategic goals and performance results, in lieu of a combined
Performance and Accountability Report. The FY 2013 APR will be included in the SEC FY 2015 Congressional Budget Justification in February 2014. Additionally, SEC will publish a Summary of Performance and Financial Information (SPFI), also to be released in February 2014. This AFR and prior year SEC AFRs are electronically available at
. To comment on this report, email SECAFR@sec.gov.
For the seventh year in a row, the SEC received a Certificate of Excellence in Accountability Reporting from the Association of Government Accountants. The award is presented to Federal Government agencies whose annual reports achieve the highest standards demonstrating accountability and communicating results.
 CERTIFICATE OF EXCELLENCE IN ACCOUNTABILITY REPORTING
®
Presented to theIn recognition of your outstanding
eorts in preparing the Agency Financial
Report and Summary of Performanceand Financial Information for the
fscal year ended
September 30, 2012.
A
CerticateofExcellenceinAccountabilityReporting
ispresented  byAGAtofederalgovernmentagencieswhoseAgency FinancialReportsachievethehigheststandardsdemonstrating accountabilityandcommunicatingresults.
U.S. Securitiesand ExchangeCommission
 Relmond P. Van Daniker, DBA, CPAExecutive Director, AGA Robert F. Dacey, CGFM, CPAChair, Certificate of Excellence in Accountability Reporting Board
 
Contents
5
 Vision, Mission, Values and Goals
 
6History and Purpose
 
8Organizational Structure and Resources
 
9FY 2013 Year in Review
 
13Looking Forward
 
28Financial Highlights
 
33Performance Highlights
 
40
 Verification and Validation of Performance Data
 
40Strategic and Performance Planning Framework 
 
40Performance Achievements
 
42Management Assurances
 
45 Annual Assurance Statement
 
45
51
Message from the Chief Financial Officer
 
52Report of Independent Auditors
 
54 
Enclosure I: Management’s Response to Audit Opinion
61 Financial Statements
 
64Notes to the Financial Statements
 
70Required Supplementary Information (Unaudited)
 
98Investor Protection Fund Financial Statements
 
102Notes to the Investor Protection Fund Financial Statements
 
104
109
Schedule of Spending
 
110Inspector General’s Statement on Management and Performance Challenges
 
112Management’s Response to Inspector General’s Statement
 
116Summary of Financial Statement Audit and Management Assurances
 
120Improper Payments Elimination and Recovery Act Reporting Details
 
121
123
 Appendix A: Chair and Commissioners
 
124 Appendix B: Major Enforcement Cases
 
127 Appendix C: SEC Divisions and Offices
 
145 Appendix D: Glossary of Selected Terms
 
147 Appendix E: Acronyms
 
151
Available on the Web at
www.sec.gov/about/secafr2013.shtml 
 To contact the SEC, please see
www.sec.gov 
 or “Contact Us” at
www.sec.gov/contact.shtml.
  To comment on this report, email SECAFR@sec.gov. For further information on selected terms and topics, please see “Fast Answers” at
www.sec.gov/answers.shtml 
.

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