FDIC to Use Sarbanes-Oxley

     WASHINGTON (CN) – Federally insured banks holding more than $1 billion in assets will be held to the standards of the Sarbanes-Oxley Act, according to a new Federal Deposit Insurance Corporation regulation.
Sarbanes-Oxley requires an independent audit committee and the appointment of an independent accountant to monitor and verify the bank’s accounting structures.

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