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#44921 - 11/21/02 09:33 PM INTERNAL AUDIT COMMITTEES OF BANKS OVER $500,000.
Anonymous
Unregistered

MY bANK WILL SOON BE OVER THE $500,000,000 MARK IN ASSETS AND FIDICIA WILL APPLY. HAS ANYONE RECENTLY MADE THIS CHANGE THAT CAN TELL ME HOW IT AFFECTED YOU AND THE AUDIT COMMITTEE? WHERE DID YOU GO FOR TRAINING?

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#44922 - 11/21/02 10:18 PM Re: INTERNAL AUDIT COMMITTEES OF BANKS OVER $500,000.
LiL Bit Moore Offline
Platinum Poster
LiL Bit Moore
Joined: Nov 2002
Posts: 624
Texas
Requirements can be found under FDICIA (FDIC Improvement Act) and 12 CFR 363. One source of reference can be found HERE which is the OCC Internal External audit handbook.

You may also want to visit a recent thread titled "Sarbanes Oxley" which includes discussion regarding mgmt's internal control attestations, which you will be reguired to do...

I have not seen or attended any training specifically regarding audit programs/requirements for large banks. I am from Texas and spoke with TBA about possibly separating their audit school by instituion size because of the varing audit requirements and programs.

Hope this helps
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#44923 - 11/22/02 01:06 PM Re: INTERNAL AUDIT COMMITTEES OF BANKS OVER $500,000.
Anonymous
Unregistered

My bank is also getting close to hitting the $500m mark.I recently attended a FDICIA seminar offered by Financial Mgr's Society and it was excellent. Great support docs and tools to help prepare. I believe they are having another one in the Spring in FLA.

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#44924 - 11/22/02 09:09 PM Re: INTERNAL AUDIT COMMITTEES OF BANKS OVER $500,000.
EllenA Offline
Platinum Poster
EllenA
Joined: Nov 2002
Posts: 598
Flushing, NY
You might also want to check in the OCC' The Directors Book
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#44925 - 11/25/02 10:23 PM Re: INTERNAL AUDIT COMMITTEES OF BANKS OVER $500,000.
OnTheEdge Offline
Diamond Poster
Joined: Apr 2002
Posts: 1,677
SmallTown, USA
I'm working on the same thing. Kirchman.com compliance manual. Look under Accounting - Audit and Audit Committee Regulations. There's a seperate section for policies on the web-site. I found a good sample policy to go by.
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The opinions expressed are mine and do not necessarily reflect those of my employer.

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