StacksVerified U.S. regulatory reference

12 CFR §150.480

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
  1. (a)Annual audit. If you conduct an annual audit, you must note the results of the audit (including significant actions taken as a result of the audit) in the minutes of the board of directors.
  2. (b)Continuous audit. If you adopt a continuous audit system, you must note the results of all discrete audits conducted since the last audit report (including significant actions taken as a result of the audits) in the minutes of the board of directors at least once during each calendar year.