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FDICIA |
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Representatives of community banks have argued they should be exempt from section 404 requirements because they have been subject to internal control rules that have worked since the 1991 passage of FDICIA. Protiviti says its deep understanding of ERP capabilities and regulations such as Sarbanes-Oxley, FDICIA, FDA, Basel II and HIPAA, coupled with SAP's product offerings, can assist companies in navigating today's complex compliance environment. All insured depository institutions that have assets of $500 million or more, regardless of whether they are SEC registrants, are subject to the audit and reporting requirements of the FDICIA of 1991 and therefore are subject to the SEC's requirements and interpretations concerning auditor independence. |
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