The Farm Credit Administration (FCA) is inviting more public feedback on its proposal to update regulations, requiring some Farm Credit System institutions to have integrated audits. This means their audits for Internal Control Over Financial Reporting would need to align with their financial statement audits. The comment period, which initially ended in January 2025, has been extended to March 31, 2025, after requests for additional time. Interested parties can submit their feedback online or by mail, and all comments will be publicly available on the FCA website.
Simple Explanation
The Farm Credit Administration is asking people to share their thoughts about a new rule that could make certain financial checks happen together. They want to hear ideas until the end of March 2025, because people needed more time to think and share their thoughts.