Kế toán tổng hợp Văn phòng Washington, DC 20548 Kiểm soát viên của Hoa Kỳ B-114831 ngày 30 tháng 6 năm 1992 Chủ tịch Thượng viện và loa của Hạ viện báo cáo này trình bày các kết quả kiểm toán báo cáo tài chính của Quỹ bảo hiểm ngân hàng cho năm kết thúc l và 1990. | GAO United States General Accounting Office Report to the Congress June 1992 FINANCIAL AUDIT Bank Insurance Fund s 1991 and 1990 Financial Statements 146943 GAO AFMD-92-73 This is trial version This is trial version United States General Accounting Office Washington . 20548 Comptroller General of the United States B-l 14831 June 30 1992 To the President of the Senate and the Speaker of the House of Representatives This report presents the results of our audit of the Bank Insurance Fund s financial statements for the years ended December 31 1991 and 1990. The Bank Insurance Fund the insurer of deposits for the banking industry is administered by the Federal Deposit Insurance Corporation FDIC . Our audit disclosed that the Fund s statements of financial position as of December 31 1991 and 1990 and its related statements of income and fund balance and statements of cash flows for the years ended present fairly in all material respects the financial position of the Bank Insurance Fund and the results of its operations and its cash flows. However significant uncertainties exist regarding general economic conditions and real estate markets. These uncertainties which are largely beyond FDIC s control could ultimately result in substantial reductions in the recovery value of failed bank assets held by the Fund and in substantial increases in costs from resolving future bank failures. In addition material internal control weaknesses in FDIC s management information system for failed institution assets could further expose the Fund to losses from errors and irregularities that may not be detected in a timely manner. We conducted our audits in accordance with generally accepted government auditing standards. Our reports on the Fund s internal control structure and its compliance with laws and regulations are also presented. The Fund s December 31 1991 financial statements reported a deficit fund balance of 7 billion resulting from 4 .
