12 CFR 715.5 - Audit of Federal Credit Unions.

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There is 1 rule appearing in the Federal Register for 12 CFR 715. View below or at eCFR (GPOAccess)
§ 715.5 Audit of Federal Credit Unions.
(a) Total assets of $500 million or greater. To fulfill its Supervisory Committee audit responsibility, a federal credit union having total assets of $500 million or greater must obtain an annual audit of its financial statements performed in accordance with GAAS by an independent person who is licensed to do so by the State or jurisdiction in which the credit union is principally located.
(b) Total assets of less than $500 million but more than $10 million. To fulfill its Supervisory Committee audit responsibility, a Federally-chartered credit union having total assets of less than $500 million but more than $10 million which does not choose to obtain an audit under § 715.5(a), must obtain an annual supervisory committee audit as prescribed in § 715.7.
(c) Total assets of $10 million or less. To fulfill its Supervisory Committee audit responsibility, a Federally-chartered credit union having total assets of $10 million or less must obtain an annual Supervisory Committee audit as prescribed in § 715.7.
(d) Other requirements. A federally chartered credit union, regardless of which audit it is required to obtain under this section, must meet other applicable requirements of this part.
[64 FR 41035, July 29, 1999, as amended at 75 FR 34621, June 18, 2010]

Title 12 published on 2014-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-01-31; vol. 79 # 21 - Friday, January 31, 2014
    1. 79 FR 5228 - Derivatives
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Final rule.
      This final rule is effective March 3, 2014.
      12 CFR Parts 703, 715, and 741

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United States Code

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 715 after this date.

  • 2014-01-31; vol. 79 # 21 - Friday, January 31, 2014
    1. 79 FR 5228 - Derivatives
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Final rule.
      This final rule is effective March 3, 2014.
      12 CFR Parts 703, 715, and 741