Title: IIA Webcast
1Brian E. Szabo, CPA SVP and General
Auditor SunTrust Banks, Inc.
2What is FDICIA?
- The Federal Deposit Insurance Corporation
Improvement Act of 1991 - Elements of FDICIA include
- Focus on internal controls over financial
reporting - Annual management assertion on the effectiveness
of internal controls - Accountants annual attestation
3Current Process
- The FDICIA process is managed by a component of
the companys risk management function. - Over 60 organizational units submit a self-
evaluation . - Information to assist in the completion of the
control evaluation is maintained on the intranet. - Internal audit reviews documentation and performs
some test work.
4Does FDICIA Help?
- Possibly.
- COSO based
- 10 Years of experience
- Management awareness
- Attestation and review experience
- Unknowns
- Can one process solve FDICIA and 404?
- Is this a minor modification or a reengineering?
- Impact of quarterly 302 process?
5Agenda
100 - 110 Introduction Overview of Annual
Certification of Controls - Dave
Richards 110 - 117 Methodology - Sheryl
Hildebrand 117 - 124 Testing the Controls -
Gary McGuire 124 - 130 FDIC Certification
Experience - Brian Szabo 130 - 145 External
Auditor Attestation - Gary Stauffer 145 -
150 Break 150 - 225 Questions Answers -
Panel 225 - 230 Concluding Remarks - Dave
Richards