Audit and Accounting Guide - Depository and Lending Institutions
Banks and Savings Institutions, Credit Unions, Finance Companies, and Mortgage Companies
Published on 4. December 2018
Book
Paperback/Softback
848 pages
978-1-948306-05-8 (ISBN)
Description
The 2018 edition of this financial institution industry standard resource offers clear and practical guidance of audit and accounting issues such as transfers and servicing, troubled debt restructurings, financing receivables and the allowance for loan losses, and fair value accounting. It also provides direction for institutions assessing their operations and internal controls for regulatory considerations as well as discussions on existing regulatory reporting matters.
More details
Series
Language
English
Place of publication
New York
United States
Target group
Professional and scholarly
Dimensions
Height: 221 mm
Width: 147 mm
Thickness: 43 mm
Weight
1089 gr
ISBN-13
978-1-948306-05-8 (9781948306058)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
New editions
Aicpa
Audit and Accounting Guide Depository and Lending Institutions
Banks and Savings Institutions, Credit Unions, Finance Companies, and Mortgage Companies 2019
Book
01/2020
Wiley
€126.20
Article is exhausted; no reprint
Previous edition
Aicpa
Audit and Accounting Guide Depository and Lending Institutions
Banks and Savings Institutions, Credit Unions, Finance Companies, and Mortgage Companies
Book
12/2017
2nd Edition
Wiley
€113.00
Article exhausted; check for reprint
Person
Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards.
The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
Content
1 Industry Overview - Banks and Savings Institutions .01-112
Description of Business 01-07
Regulation and Oversight 08-63
Regulatory Capital Matters 64-85
Annual Independent Audits and Reporting Requirements 86-111
Other Reporting Considerations 112
2 Industry Overview - Credit Unions 01-62
Description of Business 01-10
Charters, Bylaws, and Minutes 11-17
Regulation and Oversight 18-23
Regulatory Capital Matters 24-54
Annual Audits 55-62
3 Industry Overview - Finance Companies .01-20
Description of Business 01-11
Regulation and Oversight 12-20
4 Industry Overview - Mortgage Companies .01-41
Description of Business 01-20
Regulation and Oversight 21-36
Reporting Considerations 37-41
5 Audit Considerations and Certain Financial Reporting Matters .01-267
Overview 01-09
Terms of Engagement 10-13
Audit Planning 14-15
Materiality 16-20
Performance Materiality 19-20
Use of Assertions in Assessment of Risks of Material Misstatement 21-22
Risk Assessment Procedures 23-75
Risk Assessment and the Design of Further Audit Procedures 76-98
Evaluation of Misstatements Identified During the Audit 99-101
Audit Documentation 102-108
Using the Work of an Auditor's Specialist 109-114
Using the Work of a Management's Specialist 115-118
Processing of Transactions by Service Organizations 119-121
Consideration of Fraud in a Financial Statement Audit 122-150
Compliance with Laws and Regulations 151-161
Going-Concern Considerations 162-189
Written Representations 175
Information Other Than Financial Statements 200-202
Certain Financial Reporting Matters 203-221
Regulation and Supervision of Depository Institutions 222-267
Regulatory Reporting Matters - Interpretation and Reporting Related to GAAP 253-257
Auditor and Examiner Relationship 258-267
6 Cash and Cash Equivalents 01-42
Introduction 01-.08
Accounting and Financial Reporting 09-33
Auditing 34-42
7 Investments in Debt and Equity Securities .01-166
Introduction 01-65
Regulatory Matters 66-82
Accounting and Financial 83-140
Auditing 141-166
8 Loans .01-.230
Introduction 01-56
Regulatory Matters 57-88
Accounting and Financial Reporting 89-181
Auditing 182-230
9 Credit Losses .01-111
Introduction 01-22
Regulatory Matters 23-37
Accounting and Financial Reporting 38-61
Auditing 62-111
10 Transfers and Servicing and Variable Interest Entities .01-123
Introduction 01-08
Regulatory Matters 09-15
Accounting and Financial Reporting 16-109
Auditing 110-123
11 Real Estate Investments, Real Estate Owned, and Other Foreclosed Assets .01-72
Introduction 01-03
Regulatory Matters 04-15
Accounting and Financial Reporting 16-54
Auditing 55-72
Chapter 12 Other Assets, Other Liabilities, and Other Investments 01-91
Introduction 01-10
Regulatory Matters 11-15
Accounting and Financial Reporting 16-76
Auditing 77-91
13 Deposits .01-70
Introduction 01-32
Regulatory Matters 33-40
Accounting and Financial Reporting 41-46
Auditing 47-70
14 Federal Funds and Repurchase Agreements 01-69
Introduction 01-25
Regulatory Matters 26
Accounting and Financial Reporting 27-47
Auditing 48-69
15 Debt .01-.77
Introduction 01-31
Regulatory Matters 32-33
Accounting and Financial Reporting 34-57
Auditing 58-77
16 Income Taxes .01-36
Introduction 01-13
Regulatory Matters 14-17
Accounting and Financial Reporting 18-30
Auditing 31-36
17 Equity and Disclosures Regarding Capital Matters .01-115
Introduction 01
Banks and Savings Institutions 02-46
Credit Unions 47-64
Corporate Credit Unions 65-79
Mortgage Companies and Mortgage Banking Activities 80-84
Regulatory Capital Matters for All Entities 85-88
Auditing 89-115
18 Derivative Instruments: Futures, Forwards, Options, Swaps, and Other Derivative Instruments 01-101
Introduction 01-69
Regulatory Matters 70-78
Accounting and Financial Reporting 79-100
Financial Statement Disclosures 95-100
Auditing Considerations 101
19 Business Combinations 01-41
Introduction 01
Regulatory Matters 02-07
Accounting and Financial Reporting 08-30
Auditing Considerations 31-41
20 Fair Value 01-71
Introduction 01
Accounting and Financial Reporting 02-66
Auditing Considerations 67-71
21 Trust and Asset Management Activities 01-30
Introduction 01-12
Regulatory Matters 13-14
Accounting and Financial Reporting 15-16
Auditing 17-30
22 Insurance Activities .01-.70
Introduction 01-10
Regulatory Matters 11
Accounting 12-.68
Auditing 69-70
23 Reporting Considerations .01-.38
Introduction 01
Forming an Opinion on the Financial Statements 02-04
Reports 05-37
Appendix A - Illustrative Unqualified PCAOB Reports 38
Appendix
A FDI Act Reporting Requirements
B Regulatory Reporting Matters - Interpretation and Reporting Related to U.S. GAAP
C Information Sources
D Overview of Statements on Quality Control Standards
E The New Leases Standard: FASB ASC 842
F Accounting for Financial Instruments
G Schedule of Changes Made to the Text from the Previous Edition Index of Pronouncements and Other Technical Guidance
Subject Index
Description of Business 01-07
Regulation and Oversight 08-63
Regulatory Capital Matters 64-85
Annual Independent Audits and Reporting Requirements 86-111
Other Reporting Considerations 112
2 Industry Overview - Credit Unions 01-62
Description of Business 01-10
Charters, Bylaws, and Minutes 11-17
Regulation and Oversight 18-23
Regulatory Capital Matters 24-54
Annual Audits 55-62
3 Industry Overview - Finance Companies .01-20
Description of Business 01-11
Regulation and Oversight 12-20
4 Industry Overview - Mortgage Companies .01-41
Description of Business 01-20
Regulation and Oversight 21-36
Reporting Considerations 37-41
5 Audit Considerations and Certain Financial Reporting Matters .01-267
Overview 01-09
Terms of Engagement 10-13
Audit Planning 14-15
Materiality 16-20
Performance Materiality 19-20
Use of Assertions in Assessment of Risks of Material Misstatement 21-22
Risk Assessment Procedures 23-75
Risk Assessment and the Design of Further Audit Procedures 76-98
Evaluation of Misstatements Identified During the Audit 99-101
Audit Documentation 102-108
Using the Work of an Auditor's Specialist 109-114
Using the Work of a Management's Specialist 115-118
Processing of Transactions by Service Organizations 119-121
Consideration of Fraud in a Financial Statement Audit 122-150
Compliance with Laws and Regulations 151-161
Going-Concern Considerations 162-189
Written Representations 175
Information Other Than Financial Statements 200-202
Certain Financial Reporting Matters 203-221
Regulation and Supervision of Depository Institutions 222-267
Regulatory Reporting Matters - Interpretation and Reporting Related to GAAP 253-257
Auditor and Examiner Relationship 258-267
6 Cash and Cash Equivalents 01-42
Introduction 01-.08
Accounting and Financial Reporting 09-33
Auditing 34-42
7 Investments in Debt and Equity Securities .01-166
Introduction 01-65
Regulatory Matters 66-82
Accounting and Financial 83-140
Auditing 141-166
8 Loans .01-.230
Introduction 01-56
Regulatory Matters 57-88
Accounting and Financial Reporting 89-181
Auditing 182-230
9 Credit Losses .01-111
Introduction 01-22
Regulatory Matters 23-37
Accounting and Financial Reporting 38-61
Auditing 62-111
10 Transfers and Servicing and Variable Interest Entities .01-123
Introduction 01-08
Regulatory Matters 09-15
Accounting and Financial Reporting 16-109
Auditing 110-123
11 Real Estate Investments, Real Estate Owned, and Other Foreclosed Assets .01-72
Introduction 01-03
Regulatory Matters 04-15
Accounting and Financial Reporting 16-54
Auditing 55-72
Chapter 12 Other Assets, Other Liabilities, and Other Investments 01-91
Introduction 01-10
Regulatory Matters 11-15
Accounting and Financial Reporting 16-76
Auditing 77-91
13 Deposits .01-70
Introduction 01-32
Regulatory Matters 33-40
Accounting and Financial Reporting 41-46
Auditing 47-70
14 Federal Funds and Repurchase Agreements 01-69
Introduction 01-25
Regulatory Matters 26
Accounting and Financial Reporting 27-47
Auditing 48-69
15 Debt .01-.77
Introduction 01-31
Regulatory Matters 32-33
Accounting and Financial Reporting 34-57
Auditing 58-77
16 Income Taxes .01-36
Introduction 01-13
Regulatory Matters 14-17
Accounting and Financial Reporting 18-30
Auditing 31-36
17 Equity and Disclosures Regarding Capital Matters .01-115
Introduction 01
Banks and Savings Institutions 02-46
Credit Unions 47-64
Corporate Credit Unions 65-79
Mortgage Companies and Mortgage Banking Activities 80-84
Regulatory Capital Matters for All Entities 85-88
Auditing 89-115
18 Derivative Instruments: Futures, Forwards, Options, Swaps, and Other Derivative Instruments 01-101
Introduction 01-69
Regulatory Matters 70-78
Accounting and Financial Reporting 79-100
Financial Statement Disclosures 95-100
Auditing Considerations 101
19 Business Combinations 01-41
Introduction 01
Regulatory Matters 02-07
Accounting and Financial Reporting 08-30
Auditing Considerations 31-41
20 Fair Value 01-71
Introduction 01
Accounting and Financial Reporting 02-66
Auditing Considerations 67-71
21 Trust and Asset Management Activities 01-30
Introduction 01-12
Regulatory Matters 13-14
Accounting and Financial Reporting 15-16
Auditing 17-30
22 Insurance Activities .01-.70
Introduction 01-10
Regulatory Matters 11
Accounting 12-.68
Auditing 69-70
23 Reporting Considerations .01-.38
Introduction 01
Forming an Opinion on the Financial Statements 02-04
Reports 05-37
Appendix A - Illustrative Unqualified PCAOB Reports 38
Appendix
A FDI Act Reporting Requirements
B Regulatory Reporting Matters - Interpretation and Reporting Related to U.S. GAAP
C Information Sources
D Overview of Statements on Quality Control Standards
E The New Leases Standard: FASB ASC 842
F Accounting for Financial Instruments
G Schedule of Changes Made to the Text from the Previous Edition Index of Pronouncements and Other Technical Guidance
Subject Index