An examiner at the Securities and Exchange Commission (SEC) tackles a stack of papers from some 1,200 foundations and non-government organizations—the sheer bulk of paperwork can strain anyone on a lookout for the dubious and devious.
Such lack of manpower and resources have been tagged as reasons why SEC examiners missed identifying bogus non-governmental organizations (NGOs) that were used by businesswoman Janet Lim-Napoles as conduit of the priority development assistance fund of legislators.
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