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FDIC and the PCAOB

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You decide to develop a presentation for your international accounting firm's new hires explaining the basics of the FDIC and the PCAOB. Please include the following:

Explain what each of these pieces of legislation was designed to solve.
Explain, generally, what they are to do and how they are to do it.
Discuss the responsibilities of the FDIC and the PCAOB, giving 3 examples of each and what they require.

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You decide to develop a presentation for your international accounting firm's new hires explaining the basics of the FDIC and the PCAOB. Please include the following:

FDIC

Explain what each of these pieces of legislation was designed to solve.
FDIC has been created by the Glass Steagall Act. The corporation guarantees the safety of deposits in its member banks. It provides deposit insurance.

Explain, generally, what they are to do and how they are to do it.
FDIC provides deposit insurance at the rate of $250,000 per depositor per bank. As it is responsible for the deposit insurer, FDIC supervises financial institutions for financial safety; it also seeks to protect consumers and manages failed banks.

Discuss the ...

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four pieces of legislation passed in the U.S. in the last 100 years

What four pieces of legislation passed in the U.S. in the last 100 years, in your opinion, have had the greatest impact on the U.S. banking/financial sector? For each of your choices:

1. What were the problems/conditions giving rise to the legislation?

2. What were the major provisions of the Act?

3. What were the significant effects or outcomes arising from the legislation?

4. Did the legislation fix the problem or condition that it was intended to fix?

5. Were there significant unintended consequences of the Act? If so, what?

6. Why did you include this piece of legislation in your list?

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