Exams or Audits

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Welcome to the Exams and Audits Community. Here you will find the latest discussions and resources that can help you in this area. Use this community to discuss best practices, trends, how to prepare, and more. Note: You will need to Sign In to join in the discussions and access resources. 

About Third-Party Risk Exams and Audits: Exams and audits have vendor management components. Understanding ways to adequately prepare for an upcoming exam or audit is critical. You must understand what the examiners and auditors expect, how to prepare documentation you’ll share with them, who should be involved, and how best to follow up on their exam findings so that the same mistake doesn’t happen again.

Latest Discussion Posts

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    RE: Regulators requesting access to your systems

    By: Anonymous Member , 8 days ago

    This message was posted by a user wishing to remain anonymous Not sure what regulation(s) Direct access to systems is a very odd ask of a regulator. Especially if you can provide any and all documentation needed. As a Governance, Risk and Compliance ... More

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    RE: Regulators requesting access to your systems

    By: Anonymous Member , 8 days ago

    This message was posted by a user wishing to remain anonymous Probably best to share which regulator is asking. Practices and requirements vary. The advice will be better if those subject to the same regulator respond. More

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    Regulators requesting access to your systems

    By: Anonymous Member , 8 days ago

    This message was posted by a user wishing to remain anonymous Hello all, Our regulators have requested direct access to our systems to help them take a holistic approach with their reviews. I am interested in your experience and thoughts on the below ... More

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    RE: Report of Examination

    By: Cheryl Turner , one month ago

    Our vendors are divided in to 3 categories. Critical, Significant and Non-Essential. The NCUA always wants a list of Critical and Significant vendors, any Due Diligence reviews that have been done, copies of contracts and copies of redlined contracts ... More

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    RE: Report of Examination

    By: Matthew Leonard , one month ago

    Typically, the Regulators will want to know all of the FI's critical or material vendors. These could be vendors that have access to NPI, such as customer information, or employee information. Vendors that represent a portion of an FI's income, or expenditure. ... More

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