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SVP and General Auditor

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Presentation on theme: "SVP and General Auditor"— Presentation transcript:

1 SVP and General Auditor
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 Does FDICIA Help? Possibly…. Unknowns… 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?

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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