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Audit
Loans to Internal Auditors
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#1076850
-
11/05/08
05:28 PM
Loans to Internal Auditors
Perplexed
Member
Joined:
Aug 2002
Posts: 88
Do you allow loans to your internal auditors or require them to go to another bank to maintain independence?
_________________________
Happy to be here.....Proud to Serve....
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Audit
#1076924
-
11/05/08
06:22 PM
Re: Loans to Internal Auditors
Perplexed
KAT
Platinum Poster
Joined:
Aug 2004
Posts: 986
Massachusetts
They have to go to both the credit committee and the board of directors.
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#1077034
-
11/05/08
07:28 PM
Re: Loans to Internal Auditors
KAT
DerrickAuditor
Member
Joined:
Mar 2008
Posts: 91
USA
We allow it - we get the employee rate like everyone else and must meet all of the underwriting requirements like everyone else.
There are stricter rules for external auditors.
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#1077063
-
11/05/08
07:49 PM
Re: Loans to Internal Auditors
DerrickAuditor
Ready to Retire
Diamond Poster
Joined:
Aug 2005
Posts: 2,313
Living in the land of Oz
We also allow loans to the auditor (me). The same as DerrickAuditor I get the employee rate and must meet the same underwriting requirements that everyone else has to meet. This policy has never been quesitoned by either regulator-FDIC or state.
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#1077273
-
11/05/08
09:34 PM
Re: Loans to Internal Auditors
Ready to Retire
QCL
Power Poster
Joined:
May 2002
Posts: 6,259
NW IL
Same as the above. Although there is no employee rate. We receive the same rate as customers.
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#1079622
-
11/10/08
04:01 PM
Re: Loans to Internal Auditors
QCL
#Just Jay
10K Club
Joined:
Oct 2006
Posts: 14,390
Cheeseheadland
I heart having an employee rate!
_________________________
I don't repeat gossip, so listen closely...
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