Whether copy of branch audit report could be sent to board of directors simultaneously with direct transmission of original branch audit report to statutory auditor
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Branch audit report transmission: originals must go to statutory auditor; a copy may be sent to the board simultaneously. Branch and internal auditors must forward the original branch audit report directly to the statutory auditor; the statutory auditor may request management explanations and will incorporate those before making audit observations. There is no administrative objection to simultaneously sending a copy of the branch audit report to the board of directors, provided the original is transmitted direct to the statutory auditor.
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Branch audit report transmission: originals must go to statutory auditor; a copy may be sent to the board simultaneously.
Branch and internal auditors must forward the original branch audit report directly to the statutory auditor; the statutory auditor may request management explanations and will incorporate those before making audit observations. There is no administrative objection to simultaneously sending a copy of the branch audit report to the board of directors, provided the original is transmitted direct to the statutory auditor.
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