45 Neb. Admin. Code, ch. 12, § 006 - DIRECTORS' EXAMINATION PERFORMED BY OTHER THAN CERTIFIED PUBLIC ACCOUNTANTS OR PUBLIC ACCOUNTANTS
006.01 In the event
the Board of Directors does not elect to provide for an annual audit by an
accountant or an accounting firm, it must of itself, or by appointment of an
independent person or persons, make a thorough examination of the books,
records, funds, and securities held by the bank.
006.02 The Directors' Examination must be
conducted in accordance with 45 NAC 13. The Board of Directors may assign the
performance of such a Directors' Examination to one or more persons who may not
necessarily be a member of the board, if the person(s) assigned is independent
of the activities being examined, has experience with financial institution
accounting and auditing, or similar expertise, and is knowledgeable about
relevant laws and regulations.
006.03 The report compiled thereof must be:
006.03A made in accordance with 45 NAC
13,
006.03B verified as to its
correctness, and
006.03C signed by
a majority of the Board of Directors so attesting.
006.04 The report is to be made a part of the
record of the bank.
Notes
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