Code of Federal Regulations (Last Updated: November 8, 2024) |
Title 12 - Banks and Banking |
Chapter IX - Federal Housing Finance Board |
SubChapter K - OFFICE OF FINANCE |
Part 989 - FINANCIAL STATEMENTS OF THE BANKS |
§ 989.1 - Definitions.
Latest version.
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As used in this part:
Audit means an examination of the financial statements by an independent accountant in accordance with Generally Accepted Auditing Standards for the purpose of expressing an opinion thereon.Audit report means a document in which an independent accountant indicates the scope of the audit made and sets forth an opinion regarding the financial statement taken as a whole, or an assertion to the effect that an overall opinion cannot be expressed. When an overall opinion cannot be expressed, the reasons therefor shall be stated.