Detail A New Approach to Regulating Small Banks   Oleh:  Newton, Keith Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 186 no. 5 (1998), page 37-50. Topik: BANKS; new approach; regulating small banks Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.7 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Bank regulators have proposed a new external audit policy for banks and thrifts with less than $500 million in assets. These smaller institutions, known as community banks, have not been subject to the audit requirements imposed on larger institutions by the Federal Deposit Insurance Corporation (FDIC). The proposed policy encourages all banking institutions to obtain annual audits of their financial statements by independent CPAs. But, as an option, it permits a new alternativean attestation examination performed by a CPA. The community bank attestation would be comparable to other attestation engagements CPA s do, such as an attestation on compliance with government regulations or the one bank auditors do assuring that government regulations for student loans have been met. In this case, CPA s would examine a banks internal controls and issue an opinion on whether or not the banks management has fully disclosed any deficiencies in those controls. The new attestation is designed to spotlight the risk areas at the regulated institutions by focusing on controls rather than on account balances. It is significant for CPA s because it presents an opportunity to offer a new assurance service. The attestation examination tests managements statements regarding the strength of internal controls on matters covered by specified call report schedules and their preparationthe ones most relevant to bank risk. An attestation examination provides a CPA s opinion similar to that in an independent audit, but its focus is on internal controls rather than on financial statements. Also, because the scope is restricted to controls over a limited number of the most important schedules rather than all financial reports, the examination usually can be done quicker and cheaper than an audit. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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