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CIP Audit Information

Answered by: 
Randy Carey

Question: 
I would like some information regarding how to audit for CIP. Are there any checklists regarding review of our CIP files for required information? How detailed should my audit be?
Answer: 

You should first compare your Board approved policy to the regulatory requirements and then take your Board approved CIP policy and audit your CIP account records to those requirements. Anyone else's CIP audit checklist may not produce the right results as there were no requirements for banks to adopt a perfectly standardized CIP program.

First published on BankersOnline.com 2/13/06

First published on 02/13/2006

Filed under: 
Security
Filed under security as: 
Audit
CIP

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