Independent public accountant.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) A statement identifying the internal control framework used by the independent public accountant, which must be the same as the internal control framework used by management, to evaluate the effectiveness of the insured depository institution's internal control over financial reporting; (2) A statement that the independent public accountant's evaluation included controls over the preparation of regulatory financial statements in accordance with regulatory reporting instructions including identification of such regulatory reporting instructions; and (3) A statement expressing the independent public accountant's conclusion as to whether the insured depository institution's internal control over financial reporting is effective as of the end of its fiscal year. The report must disclose all material weaknesses in internal control over financial reporting that the independent public accountant has identified that have not been remediated prior to the insured depository institution's fiscal year-end. The independent public accountant is precluded from concluding that the insured depository institution's internal control over financial reporting is effective if there are one or more material weaknesses. (c) (d) (1) All critical accounting policies and practices to be used by the insured depository institution, (2) All alternative accounting treatments within GAAP for policies and practices related to material items that the independent public accountant has discussed wit

official document · source cfr-2024 · id 12:§ 363.3