I'm the Internal Auditor and Audit Coordinator at our bank. Our Loan Policy currently states that financial statements are required at loan opening and annually on loan customers with $150,000 or more in aggregate debt. We've had external auditors make several findings where the financial statements are missing or are outdated. I notify the responsible loan officers of these findings, and then I track them on my Audit Findings log for 30 days and then move them to the Policy Exceptions list, which goes to the Board monthly, that the Compliance Officer maintains. Has anyone heard of other banks not tracking Financial Statement exceptions as Loan Policy Exceptions? Our CLO stated that other banks do not do it it this way. To me, it seems uncomplicated, they are Policy Exceptions, so they should be tracked as such. Any insight would be helpful. Thank you.