An audit by the Government Accountability Office of the Securities and Exchanges Commission’s Investor Protection Fund financial statements for fiscal years 2011 and 2012 found two areas of significant deficiency in the SEC’s internal controls.

The GAO said in a report released Friday that the “significant control deficiencies may adversely affect the accuracy and completeness of information used and reported by SEC’s management.” As a result, the GAO made nine new recommendations to address these significant internal control deficiencies.

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