About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

AIMD-99-275R 1 (1999-08-24)

handle is hein.gao/gaobacnhl0001 and id is 1 raw text is: I ~GAO Accountablllty * Integrity * Reliability United States General Accounting Office Accounting and Information Washington, DC 20548 Management Division B-283406 August 24, 1999 The Honorable Donna A. Tanoue Chairman, Board of Directors Federal Deposit Insurance Corporation Subject: Financial Audit: Other Matters Identified During GAO's 1998 FDIC Financial Statement Audits Dear Chairman Tanoue: In June 1999, we issued our opinions on the calendar year 1998 financial statements of the Bank Insurance Fund (BIF), Savings Association Insurance Fund (SAIF), and FSLIC Resolution Fund (FRF). We also issued our opinion on the Federal Deposit Insurance Corporation (FDIC) management's assertions regarding the effectiveness of its internal control as of December 31, 1998, and reported on FDIC's compliance with selected provisions of laws and regulations for the three funds for the year ended December 31, 1998 (GAO/AIMD-99-202 June 30, 1999). We conducted our audit pursuant to the provisions of section 17(d) of the Federal Deposit Insurance Act, as amended (12 U.S.C. 1827(d)), and in accordance with generally accepted government auditing standards. The purpose of this letter is to advise you of internal control weaknesses identified during our audits of the 1998 financial statements and to suggest improvements to address those weaknesses. Although these matters were not material in relation to the financial statements, we believe that they warrant the attention of management. We provided FDIC officials with a draft of this letter and discussed the matters addressed below with them. FDIC officials generally agreed with our findings and suggestions. We will follow up on these matters during our audits of the 1999 financial statements. In a separate letter, we are also communicating several additional sensitive matters concerning vulnerabilities in electronic information system controls. GAO/AIMD-99-275R FDIC Management Letter

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most