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Thursday, March 28, 2024 | Back issues
Courthouse News Service Courthouse News Service

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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