Nebraska Administrative Code
Topic - BANKING AND FINANCE, DEPARTMENT OF
Title 45 - BANKING RULES
Chapter 12 - DIRECTORS' EXAMINATIONS PERFORMED BY CERTIFIED PUBLIC ACCOUNTANTS OR PUBLIC ACCOUNTANTS
Section 45-12-006 - DIRECTORS' EXAMINATION PERFORMED BY OTHER THAN CERTIFIED PUBLIC ACCOUNTANTS OR PUBLIC ACCOUNTANTS
Current through March 20, 2024
006.01 In the event the Board of Directors does not elect to provide for an annual audit by an accountant or an accounting firm, it must of itself, or by appointment of an independent person or persons, make a thorough examination of the books, records, funds, and securities held by the bank.
006.02 The Directors' Examination must be conducted in accordance with 45 NAC 13. The Board of Directors may assign the performance of such a Directors' Examination to one or more persons who may not necessarily be a member of the board, if the person(s) assigned is independent of the activities being examined, has experience with financial institution accounting and auditing, or similar expertise, and is knowledgeable about relevant laws and regulations.
006.03 The report compiled thereof must be:
006.04 The report is to be made a part of the record of the bank.
