0MB rquests that the burden and cost estimates for this review be re-estimated and resubmitted as a correction worksheet by May 31, 1996. Approval through April 1997 is provided for NCUA to request extension of approval for another 3 years following the procedures of PRA 1995. NCUA should take advantage of the Federal notice announcing the agency review to request comment on estimates of burden.
Inventory as of this Action
Requested
Previously Approved
04/30/1997
04/30/1997
02/29/1996
17,556
0
8,335
17,556
0
83,350
0
0
0
The information is collected by the credit union's supervisory committee or its designated representative, through a supervisory committee audit which is required at least once every calendar year covering the period since the last audit. The information is used by both the credit union and the NCUA to ensure through audit testing that the credit union's assets, liabilities, equity, income, and expenses have each of the following attributes: existence, proper cut off, valuations, ownership, disclosures and classification, and internal controls (current Para. 701.12(b)).
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Revision to Part 701.12 and 701.13, NCUA Rules and Regulations