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Diane Publishing Books
Financial Audit: Federal Deposit Insurance Corporation Fundäó»s 2013 and 2012 Financial Statements
James R. Dalkin (au)
Created in 1933 to insure bank deposits and promote sound banking practices, the Fed. Deposit Insurance Corp. (FDIC) plays an important role in maintaining public confidence in the nation's financial system. FDIC administers the Deposit Insurance Fund (DIF), which protects bank and savings deposits, and the Fed. Savings and Loan Insurance Corp. (FSLIC) Resolution Fund (FRF), which was created to close out the business of the former FSLIC. GAO annually audits the financial statements of the DIF and of the FRF. GAO is responsible for obtaining reasonable assurance about whether (1) FDIC's financial statements for the DIF and for the FRF are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) FDIC maintained effective internal control over financial reporting; and (3) there are any reportable instances of FDIC noncompliance with tested provisions of applicable laws, regulations, contracts, and grant agreements. Figures. This is a print on demand report.
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