According to the FDIC Improvement Act passed by the U.S. Congress in 1991, the federally insured depository institutions must:
A) Pass regular full-scope, on-site examinations
B) Supply bank regulatory agencies with annual reports, including an annual audit by an independent public accountant
C) Disclose more of auditor information and of the market values of institutional assets and capital to the public
D) None of the above
E) All of the above

Question

Quizplus · Accepted Answer

The FDIC Improvement Act of 1991 requires federally insured depository institutions to undergo regular full-scope, on-site examinations, submit annual reports including audits by independent public accountants, and disclose more information about auditor assessments and the market values of assets and capital to the public.

According to the FDIC Improvement Act Passed by the U