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#2112893 - 01/03/17 08:04 PM Reserve Requirements--Reg D audit
crc Offline
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Joined: May 2004
Posts: 150
South Dakota
Do you verify the interest earned on your NOW accounts for this audit?

We have started doing this audit internally and noted in the prior (external) auditor's work papers that he tested the interest earned in addition to eligibility for NOW.

Calculating the interest seems like an unnecessary item for the scope of this audit.

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#2112902 - 01/03/17 08:34 PM Re: Reserve Requirements--Reg D audit crc
bcompliance Offline
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Joined: Sep 2014
Posts: 1,294
It depends on what the scope of the audit is. I did not include that in my Reg D audit.
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#2113107 - 01/05/17 02:24 PM Re: Reserve Requirements--Reg D audit crc
E.E.G.B Offline
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the sandy shore
If he was also doing Reg CC or TIS reviews at the same time, he probably tested it in to facilitate work under those programs.
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#2113937 - 01/11/17 10:24 PM Re: Reserve Requirements--Reg D audit crc
Andy_Z Offline
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Sometimes I would audit dissimilar items because one part needed to be done and this was the best time to do it.
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