Opportunities for Improvements in FDIC's Internal Controls and Accounting Procedures

Opportunities for Improvements in FDIC's Internal Controls and Accounting Procedures

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Discusses the control deficiencies that collectively represented the material weakness in the FDIC's internal control over financial reporting related to its loss-share estimation process. It also discusses other internal control issues identified during a 2009 audit. Although not all of these issues were discussed in the 2009 report on the results of their 2009 financial statement audit, they all warrant FDIC management's attention and correction. This report also provides 14 recommendations to address the internal control issues identified during the 2009 audit. The report also provides the status of recommendations from prior audits made to address previously identified internal control issues. Illus. This is a print on demand edition of an important, hard-to-find report.The LLR template provides a structure for capturing the data needed to determine the allowance for loss amount by ... on a primarily manual process for the calculation of the allowance for loss necessitates that each template undergo a ... estimate for 2009 and which FDICa#39;s review procedures failed to detect and correct.


Title:Opportunities for Improvements in FDIC's Internal Controls and Accounting Procedures
Author: Steven Sebastian
Publisher:DIANE Publishing - 2011-06-01
ISBN-13:

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