The AICPA has issued Technical Question and Answer (TQA) 6996.01 to provide nonauthoritative guidance about FDIC Improvement Act (FDICIA) reporting options for insured depository institutions between $1 and $3 billion in total consolidated assets. The TQA discusses whether auditors can report on
the financial statements,
internal control over financial reporting (ICFR) over the financial statements, and
ICFR over regulatory financial statements at different levels,
while complying with both Part 363, Annual Independent Audits and Reporting Requirements, of the U.S.