SEC Wants to See CFO’s Office Audits
Now the the Securities and Exchange Commission, too, wants to know what's going on Natwar Gandhi's Office of the Chief Financial Officer.
The SEC sent a letter to the OCFO yesterday asking to see more than two years' worth of audits and inspections, according to a letter sent by Gandhi to Mayor Vince Gray and the D.C. Council today. The letter came from the SEC's municipal securities enforcement unit, suggesting that they are interested in the District's bond offerings.
Federal regulators want to see "copies of all audits, inspections, reviews, and investigations (including drafts)" performed from Jan. 1, 2010, to Oct. 19, 2012, by the OCFO's oversight branch, the Office of Integrity and Oversight. The OCFO's practice of keeping previous audits private came under fire last week, with the council voting unanimously to require the audits to be posted online.
'The OCFO intends to fully comply with the request," Gandhi writes in his letter. A supplement about the SEC request is set to be added to a new $675 million bond issue from the District.
Photo by Darrow Montgomery