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Audit Policy and Procedures Template Update - 04/13/06 Bankpolicies.com is proud to announce the immediate availability of our revised Audit Policy and Procedures Template product. The revision to this product is in response to the Joint Press Release entitled "Federal Financial Regulatory Agencies Issue Interagency Advisory on External Auditor Limitation of Liability Provisions" issued on February 3, 2006. This guidance announced the issuance of a final advisory that addresses safety and soundness concerns that may arise when financial institutions agree to limit their external auditors' liability. The agencies' primary concern is that limiting the liability of external auditors in engagement letters may reduce the reliability of audits. http://www.federalreserve.gov/boarddocs/press/bcreg/2006/20060203/default.htm The guidance applies to any agreement that a financial institution enters into with its external auditor that limits the external auditor's liability with respect to audits in an unsafe and unsound manner executed on or after February 9, 2006. What's New Topic 10 - Limitation of Liability Provisions in External Audit Engagement Letters. Subtopics within this section are: General Engagement Letter Audit Objectives Limitation of Liability Provisions Auditor Independence Alternative Dispute Resolution Agreements and Jury Trial Waivers Examples of Unsafe and Unsound Limitation of Liability Provisions Product Contents Purpose and Contents - Topic 1 External Audited Areas - Topic 11 Ordering Information This revised product is available to purchase from Bankpolicies.com for: $375.00 - List Price - or - $50.00 - Update Price (applies only to clients who have previously purchased our Audit Policy and Procedures Template product in addition to the following prior update if applicable): Audit Policy and Procedures Template Update - 12/27/05 If you have ordered this product after 3/13/06 you are eligible to receive the Product Update at no charge. Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies). NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com. Find Out What's New with our Product Update Program Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product. How does it work? Clients who previously purchased the product are offered an "update" via e-mail at a substantial discount off the current list price, whereas clients who have not are provided an opportunity to get it hot off the press! Additionally, clients who have ordered the product from us within the past 30 days are eligible to receive the update for free! Do our various discounts apply? Yes! All of our discount programs (Standard Volume and Legacy Rewards Program - refer to our Special Offers page) can be applied to your Product Update Program order. Current subscriber but not receiving notifications from us? Please ensure your SPAM filter is set to allow an e-mail originating from our service@bankpolicies.com address to successfully arrive in your e-mailbox. |
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