12 CFR 715.6 - Audit of Federally-insured State-chartered 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)
§ 715.6 Audit of Federally-insured State-chartered credit unions.
(a) Total assets of $500 million or greater. To fulfill its Supervisory Committee audit responsibility, a federally-insured State-chartered 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. To fulfill its Supervisory Committee audit responsibility, a federally-insured State-chartered credit union having total assets of less than $500 million must obtain either an annual supervisory committee audit as prescribed under either § 715.6(a) or § 715.7, or an audit as prescribed by the State or jurisdiction in which the credit union is principally located, whichever audit is more stringent.
(c) Other requirements. A federally-insured, state-chartered credit union, regardless of which audit it is required to obtain under this section, must meet other applicable requirements of this part except §§ 715.5 and 715.12.

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