Profiles of Existing Government Corporations - US Government ...

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CORWRATION PROFILE
REPORTING STATUS: SIPC is required to submit to th8 SEC an
annual report, including audited financial etatemente vith such
comments thereon as it may deem appropriate. The SEC transmits
such report to the President and to the COngree8.
LITIGATION STATUS: SIPC has the power to sum and be sued,
complain and defend, in its corporate name and through its OWI
counsel, in any atate, federal or other court.
FINANCIAL AUDIT REQUI-S: SIPC’e financial statements shall
be examined by an independent public accountant or firm of
independent public accountanta, selected by SIPC and satisfactory
to the SEC.
FINANCIAL AUDITOR: Ernst and Whinney, CPA
WfKNR AUDIT REQUIREWENTS: The SEC may examine SIPC corporate
reports and recorda.
OTHER AUDITOR: SEC
AUDITED: Ernmt and Whinnmy, calendar year 1987 audit
OPINION: Unqualified
ACCOUNTING PRINCIPLES: Accounting rocorda arm maintained on an
accrual bamis and financial statmmonts arm prepared in accordance
with generally accepted accounting principlea (GMP).
RRvmoEs: $29,117,129
APPRDPRIATIONS TXPSMDED: None
EXPENSES: $31,469,421
NET IN- (I&38) : ($2,352,292)
GRANTS ISSUED: None
LOANS ISSUED: s3o,als,s37b
IDAN PA=9 RECEIVED: $3,103,656b
IDAN LOSSES: $27,311,87gb
IDAN CONJCITNENTS: None
IDANS OUTSTARDING: $9,300,000
.