Financial Audit: Federal Deposit Insurance Corporation's 1999 and 1998 Financial Statements

Abstract

This report presents our opinions on the financial statements of the Bank Insurance Fund, the Savings Association Insurance Fund, and the FSLIC Resolution Fund (FRF) for the years ended December 31,1999 and 1998. These financial statements are the responsibility of the Federal Deposit Insurance Corporation (FDIC), the administrator of the three funds. This report also presents (1) our opinion on the effectiveness of FDIC's internal control as of December 31,1999, and (2) our evaluation of FDIC's compliance with laws and regulations during 1999. In addition, it discusses a reportable weakness in information systems control detected during our 1999 audits, ongoing litigation affecting FRF, and the current status of FRF's liquidation activities. We conducted our audits 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.

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Document Details

Document Type
Technical Report
Publication Date
May 01, 2000
Accession Number
ADA377875

Entities

Organizations

  • United States Government Accountability Office

Tags

DTIC Thesaurus Topics

  • Application Software
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  • Congress
  • Electronic Mail
  • Governments
  • Health Care
  • Information Systems
  • Law
  • Money
  • Personnel Management
  • Program Management
  • Reliability
  • Statistical Sampling
  • United States
  • United States Government

Fields of Study

  • Business

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