GroundRules
12 CFR 150.440: When do I have to audit my fiduciary activities?
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY
- PART 150—FIDUCIARY POWERS OF FEDERAL SAVINGS ASSOCIATIONS
- Subpart B—Exercising Fiduciary Powers
(a) Annual audit. If you do not use a continuous audit system described in paragraph (b) of this section, then you must arrange for a suitable audit of all significant fiduciary activities at least once during each calendar year.
(b) Continuous audit. Instead of an annual audit, you may adopt a continuous audit system. Under a continuous audit system, you must arrange for a discrete audit of each significant fiduciary activity (i.e., on an activity-by-activity basis) at an interval commensurate with the nature and risk of that activity. Some fiduciary activities may receive audits at intervals greater or less than one year, as appropriate.
Collected 2026-08-27T02:24:16Z. Source file · JSON