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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.

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