32-3-808. Annual audit. (1) The supervisory committee of a corporate credit union shall require an annual opinion audit to be made by an independent, licensed certified public accountant and shall submit the audit report to the board of directors. A summary of the audit report must be submitted to the membership at the next annual meeting.
(2) The auditor's workpapers must be made available for review by state and federal regulatory examiners during any examination conducted by the examiners.
(3) A copy of the audit report and reportable conditions letter, otherwise known as the management letter, must be submitted to the department and the national credit union administration within 30 days after receipt by the board of directors.
History: En. Sec. 8, Ch. 66, L. 1993.
Structure Montana Code Annotated
Title 32. Financial Institutions
Part 8. Corporate Credit Unions
32-3-802. Purpose -- membership
32-3-803. Voting representative -- conflict of interest
32-3-804. Additional rights and powers -- department rules
32-3-805. Membership capital accounts
32-3-806. Fixed assets -- department rules
32-3-807. Corporate reserves -- department rules