KRS 286.6-285: Annual audit.

(1) Unless the credit union has been audited by a licensed public accountant or other

qualified person or firm, the supervisory committee shall make or cause to be made

a comprehensive annual audit of the books and affairs of the credit union. It shall

submit a report of each annual audit to the board of directors and the commissioner

and a summary of that report to the members at the next annual meeting of the

credit union.

(2) The supervisory committee shall make or cause to be made such supplementary

audits, examinations or verifications of members' accounts as it deems necessary or

as are required by the commissioner or by the board of directors, and submit reports

of these supplementary audits to the board of directors.