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#1535859 - 04/14/11 08:15 PM Required Annual Internal Audits - Investments?
TheQueen Offline
Member
Joined: Jun 2006
Posts: 85
CT
I reviewed the FDIC's Supervisory Policy Statement on Investments, and I am not seeing where this audit is required to be conducted annually. Am I missing something? Thanks!

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#1536698 - 04/18/11 03:31 PM Re: Required Annual Internal Audits - Investments? TheQueen
transplant Offline
Junior Member
Joined: Sep 2007
Posts: 36
You might be thinking of the guidance on interest rate risk. It recommends that the Bank's IRR model be validated and backtested. In early 2010, there was a FIL that reiterated this.

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#1538115 - 04/20/11 05:27 PM Re: Required Annual Internal Audits - Investments? transplant
TheQueen Offline
Member
Joined: Jun 2006
Posts: 85
CT
Thanks for your help! I do have ALCO audited annually, but I think it's more of a recommendation for Investments to be audited annually - based on securities holdings and transactions. Again - thanks for oyur guidance, transplant!

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