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Brian E. Szabo, CPA SVP and General Auditor SunTrust Banks, Inc.

Brian E. Szabo, CPA SVP and General Auditor SunTrust Banks, Inc. What is FDICIA?. The Federal Deposit Insurance Corporation Improvement Act of 1991 Elements of FDICIA include: Focus on internal controls over financial reporting

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Brian E. Szabo, CPA SVP and General Auditor SunTrust Banks, Inc.

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  1. Brian E. Szabo, CPA SVP and General Auditor SunTrust Banks, Inc.

  2. What is FDICIA? • The Federal Deposit Insurance Corporation Improvement Act of 1991 • Elements of FDICIA include: • Focus on internal controls over financial reporting • Annual management assertion on the effectiveness of internal controls • Accountant’s annual attestation

  3. Current Process • The FDICIA process is managed by a component of the company’s risk management function. • Over 60 organizational units submit a self- evaluation . • Information to assist in the completion of the control evaluation is maintained on the intranet. • Internal audit reviews documentation and performs some test work.

  4. Possibly…. COSO based 10 Years of experience Management awareness Attestation and review experience Unknowns… Can one process solve FDICIA and 404? Is this a minor modification or a reengineering? Impact of quarterly 302 process? Does FDICIA Help?

  5. Agenda 1:00 - 1:10 Introduction & Overview of Annual Certification of Controls - Dave Richards 1:10 - 1:17 Methodology - Sheryl Hildebrand 1:17 - 1:24 Testing the Controls - Gary McGuire 1:24 - 1:30 FDIC Certification Experience - Brian Szabo 1:30 - 1:45 External Auditor Attestation - Gary Stauffer 1:45 - 1:50 Break 1:50 - 2:25 Questions & Answers - Panel 2:25 - 2:30 Concluding Remarks - Dave Richards

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