Regulatory Alerts1996-01-01
Memo 1996-8A Timing of Audits
Kansas Bank Commissioner W. Newton Male issued revised guidance on audit timing for state-chartered banks and trust companies to comply with K.S.A. 9-1116 and K.A.R. 17-23-5. The memo allows institutions to choose between four quarterly audits with board reviews or a single annual audit, providing greater scheduling flexibility than previous interpretations. Specific rules define the 18-month commencement window for annual audits and the retrospective compliance checks for quarterly audit programs.
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