The Directors' Exam Requirements were changed for 2001. Does this mean the internal auditor does not have to perform the directors' exam? Did I read this new rule correctly? Does anyone have a different interpretation? By the way this was issued by the OFI from the state of Louisiana.

go the OFI's website:

www.ofi.state.la.us
click on Rules/Policies/Opinions and then click on Director's Exam Requirements (pdf file).

At my bank, one of the senior managers performs the exam and submits it to the OFI... I admit I have not read the requirements effective for 2001.