Depository and Lending Institutions 


    As a financial statement preparer or auditor it is essential to understand the complexities of the depository and lending institutions industry including the operational, regulatory, accounting, reporting, and auditing aspects unique to this industry. AICPA publications provide general background information along with recent developments, additional information on complex issues, and illustrative examples for the common accounting and audit practices in the depository and lending institutions industry, including banks and savings institutions, credit unions, finance companies, and mortgage companies. Topics addressed in the depository and lending institutions publications include
    • investments in debt and equity securities and other-than-temporary impairments.
    • loans and credit losses.
    • accounting for transfers and servicing of financial assets.
    • troubled debt restructurings 
    • auditing estimates such as the allowance for loan and lease losses.
    Also covered are recent developments in areas such as consolidation, transfers and servicing, troubled debt restructurings, financing receivables and the allowance for loan losses, and fair value measurements.

    Regulatory updates from the Federal Financial Institutions Regulators, Securities and Exchange Commission, U.S. Commodity Futures Trading Commission, Dodd-Frank Wall Street Reform and Consumer Protection Act, and amendments to the Corporate Credit Union rulings are also discussed. Finally, emerging issues such as the U.S. implementation of Basel III, proposed amendments to the SEC’s broker-dealer financial reporting rule included in SEC Rule 17a-5; and the PCAOB proposed auditing standards for broker-dealers are also covered.

    For more information on the industry and the AICPA's commitment to provide updates and guidance, visit the Depository and Lending Institutions Expert Panel's webpage.


    Audit and Accounting Guide Depository and Lending Institutions: Banks and Savings Institutions, Credit Unions, Finance Companies, and Mortgage Companies


    Availability



    Audit Risk Alert Financial Institutions Industry Developments: Including Depository and Lending Institutions and Brokers and Dealers in Securities


    Availability

    This alert is intended to be used in conjunction with Audit Risk Alert General Accounting and Auditing Developments, which explains important issues that affect all entities in all industries in the current economic climate. General topics include recently issued guidance and emerging audit risks resulting from external economic factors.


     




    AICPA Online Professional Library


    When you subscribe to any one of the many subscription options on AICPA Online Professional Library, you're not only getting access to the most up-to-date guidance and tools, you are also linked to all of the relevant and related literature, including the FASB and GASB libraries.

    Many publications and libraries may be of value to those interested in guidance related to depository and lending entities:

    Guidance contained in the AICPA Online Professional Library has also been grouped into topical sets including varying levels of guidance. The following may be of interest to those seeking information and guidance on depository and lending entities:





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