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129572 1 (1986-04-10)

handle is hein.gao/gaobactqs0001 and id is 1 raw text is: 

             UNITED STATES GENERAL ACCOUNTING  OFFICE
                     WASHINGTON,  D.C.  20548

                                         FOR RELEASE ON DELIVERY
                                         EXPECTED AT 10 A.M.
                                         APRIL 10, 1986





                          STATEMENT  OF

                   FREDERICK  D. WOLF, DIRECTOR

          ACCOUNTING AND FINANCIAL  MANAGEMENT DIVISION

                            BEFORE THE

          SUBCOMMITTEE ON OVERSIGHT  AND INVESTIGATIONS

                              OF THE

             HOUSE COMMITTEE  ON ENERGY AND COMMERCE

                                ON

        PROBLEMS IN REPORTING  BY DEPOSITORY INSTITUTIONS






Mr. Chairman and Members of  the Subcommittee:

     I want to thank you  for the opportunity to offer testimony

today concerning problems  in reporting by depository institu-

tions and their relationship  to accounting practices prescribed

by federal regulatory agencies  and the responsibilities of

independent auditors.

     Recently, a great deal  of attention has been directed at

the problems of the bank and  S&L industries and actions to

resolve them.  This morning,  I would like to discuss one aspect





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