PURPOSE: This rule establishes the requirements to be met before a credit union may have an audit in place of the regular examination by the division (see section 370.120(3), RSMo for statutory provisions).

1. (1) The reports of an auditor who has audited a credit union may be accepted by the director in lieu of an examination by his/her office, where the auditor has been approved by the director for the audit on the basis of a 20 CSR 1100-2

written application from the credit union for the acceptance of the audit in lieu of examination. Further, the director, in approving the performance of the audit, may require the submission of various classes of data, delineated by him/her, to be reported in the manner required by him/her and upon forms as s/he may require.

AUTHORITY: section 370.100, RSMo 1986.* This rule originally filed as 4 CSR 100-2.100. Original rule filed Sept. 14, 1972, effective Sept. 24, 1972. Amended: Filed Dec. 15, 1975, effective Dec. 25, 1975. Moved to 20 CSR 1100-2.100, effective Aug. 28, 2006. *Original authority: 370.100, RSMo 1939, amended 1945, 1945, 1949, 1959, 1967, 1972.