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#1668258 - 02/22/12 04:28 PM audit results
Josie
Unregistered

We were recently given a "matters requiring attention" on flood. There was a scrub completed on the loans requiring flood insurance to correct any errors. I was instructed by the examiners to complete an audit after the scrub, which I have just finished. The bank president asked me to meet with him a few days ago. He wanted to let me know that if my audit shows a rating of "needs to improve" and if that draws the examiners attention, that the audit department will be outsourced. I don't feel that the audit deserves a "needs to improve", however, I feel like I have been asked to be unethical. Should I take any action?

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#1668266 - 02/22/12 04:48 PM Re: audit results
califgirl Offline
Diamond Poster
califgirl
Joined: Mar 2002
Posts: 2,355
The O.C., California
1. Remove your bank's name from your profile. Exam results are confidential.

2. Update your resume.
_________________________
I can explain it to you. I can't understand it for you.

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#1668268 - 02/22/12 04:54 PM Re: audit results
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
1. Have a chat with the chairman of your audit committe regarding the threatening comments made by the president.

2. Update your resume.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1668269 - 02/22/12 04:41 PM Re: audit results
Josie
Unregistered

I'm new at posting so I appreciate the first advice, however, I was thinking more in terms of whether I should speak to the audit committee.

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#1668276 - 02/22/12 04:57 PM Re: audit results
West Coast Comp Offline
Gold Star
West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
I'm with carey...not a good situation to be in. I'd be looking, even if the board will support you, you don't want to be in an environment that threatens the audit team to get the results desired.
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#1668290 - 02/22/12 05:08 PM Re: audit results West Coast Comp
RR Sarah Offline
Power Poster
RR Sarah
Joined: Mar 2004
Posts: 2,505
Up North
Definitely speak with the audit committee. It never ceases to amaze me how sometimes management thinks that just because you write something on a piece of paper it makes it so! Flood is a hotspot and with a MRA they WILL pull their own sample. If your audit does not match what they find it will be a ding against management and you will become the scapegoat.
_________________________
Sometimes you have to burn a few bridges to keep the crazies from following you.

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#1668334 - 02/22/12 05:47 PM Re: audit results
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Management needs to understand that if audit does not report what they actually found, it will be noticed and not only will the flood process be criticized but the audit process will be found to be deficient as well. The request is simply making the situation worse, not helping it.
Last edited by Kathleen B; 02/22/12 05:48 PM.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1668398 - 02/22/12 07:16 PM Re: audit results
Josie
Unregistered

Thank you all for your input.

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