tailieunhanh - 1GA Report to the Congress December 1988 FINANCIAL AUDIT Federal Home Loan Banks 1987_part1

Tham khảo tài liệu '1ga report to the congress december 1988 financial audit federal home loan banks 1987_part1', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | r United States General Accounting Office GAO Report to the Congress December1988 financial audit Federal Home Loan Banks 1987 Financial Statements his is trial version 1 About Our New Cover. The new color of our report covers represents the latest step in GAO s This is trial version GAO United States General Accounting Office Washington . 20548 Comptroller General of the United States B-114893 December 30 1988 To the President of the Senate and the Speaker of the House of Representatives This report presents the results of our reviews of the independent certified public accountants audits of the calendar year 1987 financial statements of each of the 12 Federal Home Loan Banks and the combined financial statements of the 12 banks. In the auditors opinions each bank s statements and the combined statements are fairly presented We are also providing the independent auditors overall reports on the banks internal accounting controls and on their compliance with laws and regulations. The banks were established under the authority of the Federal Home Loan Bank Act of 1932 12 . 1423 and are classified as mixed-ownership government corporations under 31 c. 9101. The banks were established to promote home ownership by serving as lending facilities for member savings institutions. The banks raise funds for this purpose primarily through the sale of consolidated debt instruments repayment of which IS the obligation of all of the banks The banks are subject to oversight by the Federal Home Loan Bank Board which was also established by the Federal Home Loan Bank Act of 1932 12 . 1437 and is an independent agency in the executive branch. As authorized by 12 1440 the Federal Home Loan Bank Board contracted with an independent certified public accounting firm Deloitte Haskins and Sells to perform financial and compliance audits of the 12 banks 1987 financial statements. The Government Corporation Control Act 31 u s c. 9105 requires the