GSE Accounting Solutions
Watkins was engaged by a Government Sponsored Enterprise (GSE) in connection with the restatement of its financial statements for the periods ended December 31, 2002 through 2006. During this engagement, Watkins deployed banking, accounting, and finance professional in order to assist this mortgage giant with its interpretation, implementation, and integration of Financial Accounting Standards (FAS), including FAS 115, 140, 133, 149, 157 and 159 as it relates to Mortgages, Mortgage Backed Securities (MBS) and Real Estate Mortgage Investment Conduits (REMICS). This work required a complete turn-key approach for restatement of prior financial results and included development of business requirements, identification of source systems, implementation and integration of IT solutions, and testing and validation of results that culminated in effective management financial reporting data that complied with Generally Accepted Accounting Standards.
5,597 total views, 1 views today