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Exam Prep vs. Audit Prep - Which Consumes More Resources for a Community Bank?

Question: 
Which consumes more resources for a bank: preparing for exams or audits?
Answer: 

According to a recent study of 187 community banks, 29% of institutions surveyed stated that exam preparation required the most administrative work. Audit preparation (21% of responses) also consumes a considerable amount of resources.

First published on 09/01/2014

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