Data Dictionary
Item Number 6724
AUDIT INDICATORCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| RCFD6724 | 1988-06-30 | 9999-12-31 | No | Multiple Forms |
| RCON6724 | 1988-06-30 | 9999-12-31 | No | Multiple Forms |
Data Description:
A one-digit number indicating the description of the most comprehensive level of auditing work performed for the bank by independent external auditors as of any date during 1987 and subsequent years thereafter.
2 = Independent audit of the bank's parent holding company conducted in accordance with generally accepted auditing standards by a certified public accounting firm which submits a report on the consolidated holding company (but not on the bank separately) (for the branch or agency conducted in accordance with home country auditing standards by an independent accounting firm)
3 = Directors' examination of the bank conducted in accordance with generally accepted auditing standards by a certified public accounting firm (may be required by state chartering authority) (for the branch or agency by external auditors, as part of the audit of the parent organization)
4 = Directors' examination of the bank performed by other external auditors (may be required by state chartering authority) (for the branch or agency by internal auditors)
5 = Review of the bank's or branch's or agency's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors (for the branch or agency 6 = other audit procedures)
7 = Other audit procedures (excluding tax preparation work) (for the branch or agency 7 = no audit or independent review)
8 = No external audit work
COMPARABILITY:
Beginning 3/31/94, reported in Schedule RAL for the FFIEC 002 report. (To be reported only with the March report.)
Beginning 3/31/89, this item is to be reported only with the March Report of Condition in Schedule RC for the FFIEC 031-034 reports.
1 = Independent audit of the bank or branch or agency conducted in accordance with generally accepted auditing standards by a certified public accounting firm which submits a report on the bank or branch or agency