Explorer

The firm did not identify and test any controls over the accuracy and completeness of the deposit transaction data that were input into the issuer's deposits system. (AS 2201.39)

The firm did not identify and test any controls over the accuracy and completeness of reports that the issuer used in the performance of various controls that the firm tested over deposit liabilities. (AS 2201.39)

The transaction data for certain retail deposit accounts were transmitted from various source systems to the issuer's retail deposit system to record transactions in the general ledger. The firm did not identify and test any controls over the accuracy and completeness of the data maintained in one of these source systems. (AS 2201.39)

The issuer placed items in deposit suspense accounts when the items required further evaluation. The firm selected for testing a control that consisted of the issuer's reconciliation of these deposit suspense accounts. The firm did not identify and test any controls over the accuracy and completeness of the system-generated reports used in the operation of this control. (AS 2201.39)

The firm used these system-generated reports in its substantive testing of deposit liabilities but did not perform any procedures to test or test any controls over the accuracy and completeness of these reports. (AS 1105.10)

The issuer disclosed (1) the lowest available credit rating by security type for its held-to-maturity securities and (2) the size and maturity date of certain deposit liabilities. The following deficiencies were identified: · The firm did not identify and test any controls over the accuracy and completeness of the issuer-prepared schedules used to develop these disclosures. (AS 2201.39)

The issuer disclosed (1) the lowest available credit rating by security type for its held-to-maturity securities and (2) the size and maturity date of certain deposit liabilities. The following deficiencies were identified: · The firm used these issuer-prepared schedules in its testing of these disclosures but did not perform any procedures to test or test controls over the accuracy and completeness of these schedules. (AS 1105.10)

During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer disclosed the size categories and maturity date of certain of its deposit liabilities. The following deficiencies were identified: · The firm used this information in its substantive testing of these disclosures but did not perform any procedures to test or test controls over the accuracy and completeness of this information. (AS 1105.10)

During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer disclosed the size categories and maturity date of certain of its deposit liabilities. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of these disclosures but did not identify and test any controls over the accuracy and completeness of the information from the issuer's legacy systems that the control owners used in the operation of this control. (AS 2201.39)

The firm's approach to testing deposit liabilities included reliance on controls. The issuer used a service organization to process and record transactions related to deposit liabilities. The firm obtained the service auditor's report which specified complimentary user controls that addressed the accuracy and completeness of information the issuer used in the operation of certain controls. The firm used this information in its testing of controls over deposit liabilities and in its substantive testing of deposit liabilities. The firm did not test beyond inquiring of management the complimentary user controls associated with deposit liabilities that were identified in the service auditor's report. (AS 2601.14)