Bankowość · 13/08/2003

Removal, Suspension, and Debarment of Accountants From Performing Audit Services

The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) are jointly publishing final rules that require large banks to hire independent auditors to review their financial statements and internal controls. The rules, which take effect on January 1, 2024, aim to improve the quality of audits and internal controls at insured depository institutions, following a series of bank failures in recent years.