Office of Inspector General, Student Loan Program, March 27, 2008, Report No. 439: “The Office of Inspector General of the Securities and Exchange Commission (Commission) conducts regular audits and inspections of Agency operations to promote the effectiveness, integrity, and efficiency of the Commission. In July 2007, we received an anonymous complaint about the Commission’s Student Loan Repayment Program (SLP), which stated that the Commission is improperly
reimbursing staff for loans to pay for their children’s educations that the Commission has not been sufficiently reviewing supporting documentation when processing awards; and employees who do not intend to leave the Commission are improperly receiving awards. In light of this complaint, and in view of the significant dollar amounts associated with SLP, we conducted an audit of the program. Our audit objectives included issues that went beyond the allegations outlined in the complaint.”