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#475747 - 12/28/05 09:31 PM Safety and Soundness Audit
BankerJohn Offline
New Poster
Joined: Nov 2005
Posts: 23
Mississippi
Our community bank <200 Million, has a safety and soundness audit next week. Does anyone have a link for an examiners guideline or regulations on this type of audit? I'm new to banking and this is for my own use/education. Thank you.

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Audit
#475748 - 12/28/05 09:33 PM Re: Safety and Soundness Audit
Lestie G Offline

Power Poster
Joined: May 2002
Posts: 3,606
Near the Land of Enchantment
It depends on who your regulator is, of course, but here's a link to the OCC's handbook on safety and soundness.

There are other examination procedures they could use during and S&S as well, but this is the bulk of them.
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#475749 - 12/28/05 10:02 PM Re: Safety and Soundness Audit
BankerJohn Offline
New Poster
Joined: Nov 2005
Posts: 23
Mississippi
Thanks for the link. I also found the FDIC version. Looks like a real load of fun. But thats part of the business. Thanks

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#475750 - 12/29/05 09:35 PM Re: Safety and Soundness Audit
LinMarie Offline
100 Club
LinMarie
Joined: Nov 2001
Posts: 243
Also, never forget that this is an examination not an audit. I always clarify with my peers that there is a BIG difference between an examiner and auditor!

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#475751 - 12/29/05 10:49 PM Re: Safety and Soundness Audit
Uncle_Milty Offline
Gold Star
Joined: Jun 2002
Posts: 434
New Jersey
If it's an option, I'd strongly suggest reading the report from the previous examination. Examiners will be sure to follow up on any corrective action suggested.

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#475752 - 12/30/05 05:39 PM Re: Safety and Soundness Audit
Creditcop Offline
Diamond Poster
Creditcop
Joined: Sep 2002
Posts: 1,685
Indiana
I agree, read the prior exam report and make sure that all items have been addressed. Examiners don't like it when reports are ignored.

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#475753 - 12/30/05 05:46 PM Re: Safety and Soundness Audit
Skyline Offline
Platinum Poster
Skyline
Joined: Sep 2005
Posts: 589
We just found out our's is scheduled for January 23rd. I would look hard at their request letter as well as prior exam reports. Our appears to be heavy on BSA and IT, and business continuity.
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