Summary

Since the passage of the Ethics Reform Act of 1989, the Senate Ethics Committee has improved its financial disclosure report review system. Today, state election offices are being used to identify candidates who must file reports, reports are reviewed within 60 days of receipt, filers are notified when more information is needed, a computer is tracking outstanding financial disclosure reports, and late filing fees are being imposed. The Committee's reviewers are not in a position to identify and resolve all potential conflicts of interest because they are not familiar enough with the work done by employees who file financial disclosure reports. However, procedures have been instituted that could help spot potential conflicts of interest. Copies of the reports are now sent to each filer's respective office, Senator, or legislative agency, which are more knowledgeable about the kind of work their employees perform.

GAO found that: (1) since the passage of the Ethics Reform Act, the Senate Select Committee on Ethics has improved its financial disclosure report review system and complied with the act's provisions concerning filing and reviewing financial disclosures; (2) the Committee has used state election offices to better track and identify individuals who are required to file financial disclosure reports; (3) Senate Committee reviewers cannot resolve all potential conflicts-of-interest because they lack adequate knowledge of the work performed by filers; and (4) the Senate Committee has implemented procedures that require employees to send copies of the reports to their respective office, Senator, or legislative agency so that reviewers are in a better position to know the types of work their employees perform and can better identify potential conflicts-of-interest.