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FedInvest User Group

Join the Federal Investments User Group on September 23, 2004, for an essential meeting hosted by Vicky Tucci and Jill Stalnaker, focusing on year-end reconciliations and the latest updates on new GAAP requirements from the FDIC. Key topics will include Federal Investments Branch Reports, internal controls (SAS 70), and the consistency of data in the Intragovernmental Fiduciary Confirmation System (IFCS). Important due dates for submissions and information about the next Federal Investments Seminar will also be covered.

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FedInvest User Group

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Presentation Transcript

  1. FedInvest User Group September 23, 2004 10am – 11am ET

  2. Agenda Ad Hoc Reports – FedInvest Demo Vicky Tucci Year-End Reconciliations Jill Stalnaker Update on new GAAP requirement – Art Murphy - FDIC Securities Subject to Impairment Federal Investments Branch Report on Susan Chapman Internal Controls – SAS 70 Location of the Next Federal Ann Fallon Investments Seminar

  3. Intragovernmental Fiduciary Data Reconciliation • Data entered into the Intragovernmental Fiduciary Confirmation System (IFCS) must be consistent with the flat file submitted to FMS’ Intragovernmental Policy & Analysis Team for input into IRAS • TFM 2 – 4700 • Federal Intragovernmental Transactions Accounting Policies Guide

  4. Intragovernmental Fiduciary Data Reconciliation DUE DATES IFCS – October 25, 2004 IRAS flat file – October 18, 2004

  5. New GAAP Requirement • Update from the FDIC on Securities Subject to Impairment • EITF 03-1

  6. SAS 70 – Report on Internal Controls • Change in Date of Report to July 31 • 3 Findings in General Computer Controls

  7. Federal Investments Seminar May 2005 Location: DC? or Parkersburg, WV?

  8. Questions or Comments?

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