SUMMARY: In accordance with requirements of the Paperwork Reduction Act
of 1995 (44 U.S.C. Chapter 35), the FDIC hereby gives notice that it
plans to submit to the Office of Management and Budget a request for
OMB review and approval of the information collection system described
Type of Review: Revision of currently approved collection.
Title: Independent Audits and Reporting Requirements.
Form Number: None.
OMB Number: 3064-0113.
Annual Burden: Number of Respondents: 420. Number of Responses per
Respondent: 3. Total Annual Responses: 1,260. Hours per Response: 32.
Total Annual Burden Hours: 40,320.
Expiration Date of OMB Clearance: September 30, 1998.
OMB Reviewer: Alexander T. Hunt, (202) 395-7860, Office of
Management and Budget, Office of Information and Regulatory Affairs,
Washington, D.C. 20503.
FDIC Contact: Steven F. Hanft, (202) 898-3907, Office of the
Executive Secretary, Room F-400, Federal Deposit Insurance Corporation,
550 17th Street N.W., Washington, D.C. 20429.
Comments: Comments on this collection of information are welcome
and should be submitted on or before October 31, 1997 to both the OMB
reviewer and the FDIC contact listed above.
ADDRESSES: Information about this submission, including copies of the
proposed collection of information, may be obtained by calling or
writing the FDIC contact listed above.
SUPPLEMENTARY INFORMATION: Section 36 of the Federal Deposit Insurance
Act (12 U.S.C. 1831m) (``FDI Act'') imposes auditing and reporting
requirements on insured depository institutions which are implemented
by the FDIC's 12 CFR part 363. Pursuant to part 363, an insured
depository institution which has total assets of $500 million or more:
files an annual report including audited financial statements,
management's statement of its responsibilities and assessment of its
internal control structure and its compliance with designated safety
and soundness laws and regulations, and an auditor's attestation
regarding management's assessments; and, notifies the FDIC when it
selects or changes its independent public accountant. The FDIC proposes
to revise the collection by deleting Schedule A ``Agreed Upon
Procedures for Determining Compliance with Designated Laws,'' from
Appendix A of part 363. This revision will conform the collection to
the deletion of Section 36(e) of the FDI Act by Section 2301 of the
Economic Growth and Regulatory Paperwork Reduction Act of 1996
Dated: September 25, 1997.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
[FR Doc. 97-25949 Filed 9-30-97; 8:45 am]
BILLING CODE 6714-01-M