FFIEC Annual Report 1999

More documents

Recommendations

Info

Independent Auditors' Report on Internal Control over Financial Reporting and Compliance Based upon the Audit Performed in Accordance with Government Auditing Standards To the Federal Financial Institutions Examination Council We have audited the financial statements of the Federal Financial Institutions Examination Council (the Council) as of and for the year ended December 31, 1999, and have issued our report thereon dated February 18, 2000. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Internal Control over Financial Reporting In planning and performing our audit, we considered the Council's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. Compliance As part of obtaining reasonable assurance about whether the Council's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. This report is intended solely for the information and use of the Members and management of the Council and the Inspector General of the Board of Governors of the Federal Reserve System, and is not intended to be and should not be used by anyone other than these specified parties. February 18, 2000 37
APPENDIX C: MAPS OF AGENCY REGIONS AND DISTRICTS 40 Board of Governors of the Federal Reserve System 41 Federal Deposit Insurance Corporation 42 National Credit Union Administration 43 Office of the Comptroller of the Currency 44 Office of Thrift Supervision 39
Page 1 and 2: Federal Financial Institutions Exam
Page 3 and 4: Laurence H. Meyer, Chairman Member
Page 5 and 6: TABLE OF CONTENTS vii Message from
Page 7 and 8: THE FEDERAL FINANCIAL INSTITUTIONS
Page 9 and 10: of usefulness for safety and soundn
Page 11 and 12: 6 gress on the Status of Riegle Com
Page 13 and 14: Regular meetings of the Council are
Page 15 and 16: ACTIVITIES OF THE INTERAGENCY STAFF
Page 17 and 18: 1999 Regulatory Attendance at FFIEC
Page 19 and 20: Task Force on Information Sharing m
Page 21 and 22: Task Force on Supervision meeting.
Page 23 and 24: and investments in mutual funds and
Page 25 and 26: sand copies of individual bank UBPR
Page 27 and 28: appointed by the President, with th
Page 29 and 30: as Chief Financial Officer and over
Page 31 and 32: INCOME AND EXPENSES of U.S. Commerc
Page 33 and 34: cable federal financial institution
Page 35 and 36: (b) Monitoring and Reviewing Founda
Page 37 and 38: FEDERAL FINANCIAL INSTITUTIONS EXAM
Page 39: FEDERAL FINANCIAL INSTITUTIONS EXAM
Page 43 and 44: FEDERAL DEPOSIT INSURANCE CORPORATI
Page 45 and 46: COMPTROLLER OF THE CURRENCY DISTRIC

FFIEC Annual Report 1999

Create successful ePaper yourself

Delete template?

Save as template?