June 29, 2011 - 12:05pm
#1
I am looking for thoughts and comments on a recommendation we received from our CPA firm. The CPA's are recommending we review 100% of "deposit file maintenance transactions." As an alternative, they recommend we prioritize "deposit FM" and only look at these transactions. I review insider accounts and loans, dormants, loan FM, sample new loans, review both deposit and loan interest rates that are out of the norm, address changes and multiple accounts at one PO Box and Fee Refunds. Has your CU ever received this type of recommendation. Are there High Risk deposit FM transactions that you review? I do plan on pursuing further with the CPA firm but would appreciate your comments. Thanks. David Butz. BHCCU.
