Insured depository institutions with total assets above $500 million are required to obtain an audit of their financial statements by an independent auditor to comply with the Federal Deposit Insurance Corporation (FDIC) regulation Part 363 – Annual Independent Audits and … Continue reading
Category Archives: Bank Holding Companies
Who Audits Bank Holding Companies
Bank holding companies (BHCs) have come under the microscope of regulators in the years following the Great Recession, mainly for their perceived link to the subprime mortgage crisis. Supervised by the Federal Reserve, BHCs with total consolidated assets over $500 … Continue reading