Financial Audit: Resolution Trust Corporation's 1995 and 1994 Financial Statements

AIMD-96-123 Published: Jul 02, 1996. Publicly Released: Jul 02, 1996.

Highlights

Pursuant to a legislative requirement, GAO audited the Resolution Trust Corporation's (RTC) financial statements for the years ended December 31, 1995 and 1994. GAO also reviewed: (1) RTC internal control weaknesses; (2) RTC mission and its completion; (3) RTC costs and funding; and (4) the cost of resolving the savings and loan crisis.

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Full Report (52 pages)

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Topics

Auditing and Financial Management

Accounting proceduresAuditing standardsBank failuresContract administrationCorporate auditsEconomic analysisFederal corporationsFinancial statement auditsInternal controlsSavings and loan associations