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#1900674 - 02/27/14 05:35 PM Combined Disclosure Audit
B.Kraus Offline
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Joined: Nov 2013
Posts: 2
If you combine several disclosures on one document and the entire document is missing from the loan file, from an auditing perspective, would you cite an exception for each missing disclosure contained on that one document? Or, would you cite only one exception for the one missing document?

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#1900677 - 02/27/14 05:38 PM Re: Combined Disclosure Audit B.Kraus
rlcarey Offline
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rlcarey
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Posts: 79,618
Galveston, TX
Depends on how your audits are structured. If they are per regulation audits, it would result in a finding in each regulatory audit. If this was a functional audit, it most likely would be one finding that violated the laundry list of regulations.
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#1900687 - 02/27/14 05:49 PM Re: Combined Disclosure Audit B.Kraus
B.Kraus Offline
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Joined: Nov 2013
Posts: 2
Thank you, rlcarey! Great insight and much appreciated!

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