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#647318 - 12/05/06 07:18 PM Call Report Audit
LinMarie Offline
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LinMarie
Joined: Nov 2001
Posts: 243
At the request of our regulators I have completed an audit of the Call Report. Basiscally, all I did was verify the integrity of the information provided. Is there something else that should be done? Would anyone be willing to provide my a copy of thier audit report on this topic?

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Audit
#650422 - 12/11/06 09:56 PM Re: Call Report Audit LinMarie
Dazed and Confused Offline
Gold Star
Dazed and Confused
Joined: Feb 2006
Posts: 250
Big XII South
Not sure you could do much else ... other than the following perhaps ...

1. Verify the correct risk-weights were assigned to assets, off-balance-sheet items, etc. for the risk-based capital calculations.
2. Verify that all "other income" and "other expense" accounts from the income statement were specifically itemized (if they exceed the threshold).
3. Inquire about off-balance-sheet items, derivatives, and recourse obligations that may not be included on the call report.

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#651281 - 12/13/06 01:36 PM Re: Call Report Audit Dazed and Confused
TexasAuditor Offline
New Poster
Joined: Dec 2006
Posts: 3
Your approach to the audit was appropriate for testing. The critical piece in the call report process is ensuring all information - g/l accounts, loans, etc. - are coded correctly when opened. You could add a review of that process in the audits impacting call report information.

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