12 C.F.R. § 363.2 Annual reporting requirements.
Title 12 - Banks and Banking
(a) Audited financial statements. Each insured depository institution shall prepare annual financial statements in accordance with generally accepted accounting principles which shall be audited by an independent public accountant. (b) Management report. Each insured depository institution annually shall prepare, as of the end of the institution's most recent fiscal year, a management report signed by its chief executive officer and chief accounting or chief financial officer which contains: (1) A statement of management's responsibilities for preparing the institution's annual financial statements, for establishing and maintaining an adequate internal control structure and procedures for financial reporting, and for complying with laws and regulations relating to safety and soundness which are designated by the FDIC and the appropriate federal banking agency; and (2) An assessment by management of the institution's compliance with such laws and regulations during such fiscal year; and (3) For an institution with total assets of $1 billion or more at the beginning of such fiscal year, an assessment by management of the effectiveness of such internal control structure and procedures as of the end of such fiscal year. [58 FR 31335, June 2, 1993, as amended at 70 FR 71232, Nov. 28, 2005]
Title 12: Banks and Banking
PART 363—ANNUAL INDEPENDENT AUDITS AND REPORTING REQUIREMENTS
§ 363.2 Annual reporting requirements.
