SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on proposed and/or
continuing information collections, as required by the Paperwork
Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is
soliciting comments concerning an information collection titled
DATES: Comments must be submitted on or before September 9, 1997.
ADDRESSES: Interested parties are invited to submit written comments to
Steven F. Hanft, FDIC Clearance Officer, (202) 898-3907, Office of the
Executive Secretary, Federal Deposit Insurance Corporation, 550 17th
Washington, D.C. 20429. Comments may be hand-delivered to the guard
station at the rear of the 17th Street building (located on F Street),
on business days between 7:00 a.m. and 5:00 p.m. (Fax number (202) 898-
3838; Internet address: email@example.com]). All comments should refer
to ``Independent Audits.''
A copy of the comments may also be submitted to the OMB desk
officer for the FDIC: Alexander Hunt, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, D.C. 20503.
FOR FURTHER INFORMATION CONTACT: Steven F. Hanft, at the address
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collection of information:
Title: Independent Audits.
OMB Number: 3064-0113.
Frequency of Response: Annual and occasional.
Estimated Number of Respondents: 420
Estimated Number of Responses per Respondent: 3.
Estimated Total Annual Responses: 1,260.
Estimated Time per Response: 32 hours.
Estimated Total Annual Burden: 40,320 hours.
General Description of the Collection: The FDIC's regulation 12 CFR
Part 363 implements section 36 of the Federal Deposit Insurance Act,
which is generally intended to facilitate early identification of
problems in financial management at larger insured institutions (those
with assets of $500 million or more) through annual independent audits,
assessments of the effectiveness of internal controls and compliance
with designated laws and regulations and more stringent reporting
requirements. This collection of information, currently approved by OMB
through September 30, 1998, would be modified to delete a requirement
that respondents comply with Schedule A to Appendix A of Part 363,
``Agreed Upon Procedures for Determining Compliance with Designated
Request for Comment: Comments are invited on: (a) Whether the
collection of information is necessary for the proper performance of
the FDIC's functions, including whether the information has practical
utility; (b) the accuracy of the estimates of the burden of the
information collection, including the validity of the methodology and
assumptions used; (c) ways to enhance the quality, utility, and clarity
of the information to be collected; and (d) ways to minimize the burden
of the information collection on respondents, including through the use
of automated collection techniques or other forms of information
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the
collection should be modified prior to submission to OMB for review and
approval. Comments submitted in response to this notice also will be
summarized or included in the FDIC's requests to OMB for renewal of
this collection. All comments will become a matter of public record.
Dated at Washington, DC, this 8th day of July, 1997.
Federal Deposit Insurance Corporation.
Steven F. Hanft,
Assistant Executive Secretary.
[FR Doc. 97-18214 Filed 4-10-97; 8:45 am]
BILLING CODE 6714-01-M