12 CFR 150.480
§ 150.480 How do I report the results of the audit?
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 150.480, § 150.480 How do I report the results of the audit?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43750
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Full text
(a) Annual audit. If you conduct an annual audit, you must note the results of the audit (including significant actions taken as a result of the audit) in the minutes of the board of directors.
(b) Continuous audit. If you adopt a continuous audit system, you must note the results of all discrete audits conducted since the last audit report (including significant actions taken as a result of the audits) in the minutes of the board of directors at least once during each calendar year.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.