Kan. Admin. Regs. § 121-4-5

Current through Register Vol. 43, No. 49, December 5, 2024

Section 121-4-5 - Audit of trust activities

(a) At least once each calendar year, each corporate credit union's supervisory committee shall cause an audit to be made of the books, records, funds and investments held in accounts. The audit shall be made by an independent certified public accountant. The supervisory committee shall make or cause to be made such supplementary audits as it deems necessary or as may be ordered by the administrator. A report of each audit shall be provided to the board of directors.

(b) Each account subject to this article shall be exempt from the certification requirements of K.S.A. 17-2211(e).

Kan. Admin. Regs. § 121-4-5

Authorized by and implementing K.S.A. 17-2214; effective Jan. 31, 1997.