PricewaterhouseCoopers accountants are crunching numbers at the $1.4 billion Constitution Corporate Federal Credit Union today, working with the corporate's own financial managers to endorse year-end numbers.
"Our members are asking for our financials so they can close their own books," said Constitution Corporate spokesman Dan Poulin.
It's a tall order. Not only must Constitution determine the value of its own investments, it must also decide how it will write down U.S. Central-related losses. The American Institute of Certified Public Accountants' recommendations for corporate credit unions included using U.S. Central's year-end audited financials as evidence to back accounting decisions.
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