Bankowość i finanse · 2.11.1995

Supervisory Committee Audits and Verifications

The National Credit Union Administration (NCUA) is proposing to amend its regulations governing credit union supervisory committee audits and verifications. The NCUA Board is proposing to amend the regulations to clarify existing audit scope; expand audit scope and reporting requirements in certain areas; clarify existing working paper access requirements and strengthen administrative remedies for denial of access; require a comprehensive engagement letter setting forth minimum contracting terms and conditions; and add relevant definitions of accounting/auditing terms used throughout the regulation.