IT Examiner School

BOARD REVIEW OF AUDIT AND RISK ASSESSMENT PROGRAM (EXCERPT) Dated 12-18-20XX

The external auditing firm of Contingent Technologies presented their findings to the Audit Committee of the Board Directors. Chairman Bose as chairman of the committee stated that Contingent was very thorough and asked in-depth questions to much of the staff, including himself. After discussing the findings, the Board asked some questions and thanked Contingent for their work. Contingent representatives were then excused.

Being no further discussion, the Board then voted unanimously to accept the Report from Contingent.

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Compliance Officer Thomas informed the Board that the bank has met Part 364 requirements. There were no questions from the Board.

Chairman of the Board Bose asked if this satisfies regulatory program reporting requirements, which was affirmed by Mr. Thomas. With no other questions, Mr. Thomas was excused from the meeting.

The Information Technology Policies, Privacy policy, and Customer Privacy Policy were also reviewed and approved with no questions from the Board.