Financial Audit: Federal Deposit Insurance Corporation's 2000 and 1999 Financial Statements

GAO audited the financial statements for the Federal Deposit Insurance Corporation's (FDIC) Bank Insurance Fund, Savings Association Insurance Fund, and FSLIC Resolution Fund for 2000 and 1999. GAO found that (1) the financial statements of each fund are presented fairly in conformity with U.S. generally accepted accounting principles; (2) although certain internal controls should be improved, FDIC had effective internal control over financial reporting and compliance with laws and regulations; and (3) there was no reportable noncompliance with the laws and regulations.