{"data":{"id":"us/12-cfr-150.440","jurisdiction":"us","citation":"12 CFR 150.440","heading":"When do I have to audit my fiduciary activities?","body":"(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.\n(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.","path":["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"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"80a5e8475bdacaa297398c431221b93d076721937ef2e556f25b60b499dfb8a0","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-150.430","next":"us/12-cfr-150.450"},"notice":"GroundRules: Original legal text. Not legal advice."}