New Jersey Administrative Code
Title 3 - BANKING
Chapter 25 - DEBT ADJUSTMENT AND CREDIT COUNSELING
Subchapter 2 - LICENSING OR REGISTRATION REQUIREMENTS, BONDING, AUDITS AND DUTIES OF A DEBT ADJUSTER
Section 3:25-2.5 - Annual audit requirement
Universal Citation: NJ Admin Code 3:25-2.5
Current through Register Vol. 56, No. 18, September 16, 2024
Each licensee shall have its financial records relating to debt adjustment audited annually by a certified public accountant or a public accountant. The auditor shall certify that the salaries and expenses paid by the licensee are reasonable compared to those incurred by comparable organizations providing similar services. The licensee shall be responsible for submitting or verifying the submission of the audit report to the Commissioner within 30 days of its issuance.
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