External Audits

This information collection is authorized by Section 36 of the Federal Deposit Insurance Act (FDI Act) and the FDIC’s implementing regulation 12 CFR Part 363 (part 363). Section 36 and part 363 are generally intended to facilitate early identification of problems in financial management at insured depository institutions (IDIs) with consolidated total assets above certain thresholds through annual independent audits, assessments of the effectiveness of internal control over financial reporting and compliance with designated laws and regulations (internal control assessments), the establishment of independent audit committees, and related reporting requirements. The asset size threshold for internal control assessments and certain audit committee membership requirements is $1 billion and the threshold for the other requirements is $500 million. The regulation also allows institutions with less than $500 million in consolidated total assets to comply voluntarily with the annual independent audit and reporting requirements. The information is used by the FDIC for supervisory, regulatory, and informational purposes.

The latest form for External Audits expires 2029-02-28 and is listed under ICR 202512-3064-003.

Annual Report - Institutions with $10B or more in Total Assets (Recordkeeping)

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight