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Audit Preparation Seems to Take Our Bank a Lot of Time. Is That Normal?

Question: 
How long should it take us to prepare for an audit?
Answer: 

91% of financial institutions require more than 5 hours to prepare for an audit or exam. Only 6% can prepare in less than 5 hours, which typically involves utilizing an electronic document management system.

First published on 09/01/2014

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