12 C.F.R. § 550.450 What standards govern the conduct of the audit?
Title 12 - Banks and Banking
Auditors must follow generally accepted standards for attestation engagements and other standards established by the OTS. An audit must ascertain whether your internal control policies and procedures provide reasonable assurance of three things: (a) You are administering fiduciary activities in accordance with applicable law. (b) You are properly safeguarding fiduciary assets. (c) You are accurately recording transactions in appropriate accounts in a timely manner.
Title 12: Banks and Banking
PART 550—FIDUCIARY POWERS OF SAVINGS ASSOCIATIONS
Subpart B—Exercising Fiduciary Powers
Audit Requirements
§ 550.450 What standards govern the conduct of the audit?
