CMS Case Study

Executive Summary The IRR/ALM/Liquidity internal audit of Cloyd Bank & Trust (the “Bank”) conducted by Carr, Riggs & Ingram, LLC (CRI) resulted in five recommendations. Each recommendation contains a type of risk identified and a proposed rating that indicates the relative importance of the related internal control issue to the audit areas as a whole. A “1” rated recommendation is considered to be of most importance, while a “4” rated recommendation is of least importance.

Audit Scope See Attachment “A” for a list of procedures performed.

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