13 Feb 2025
📊FCA Proposes New Rule on Internal Control Over Financial Reporting
Internal Control Over Financial Reporting
Summary
The Farm Credit Administration (FCA or we) extends the comment period on its proposed rule that would revise FCA regulations to require certain Farm Credit System institutions to obtain integrated audits under certain conditions. FCA is reopening the comment period.
Agencies
- Farm Credit Administration
Business Impact
$$ - Med
The document outlines a proposed rule requiring Farm Credit System institutions to undergo integrated audits of their internal controls over financial reporting. This creates compliance requirements for affected businesses, impacting financial reporting processes and potentially leading to extra costs for compliance reviews.