We have an Investments department that are our employees, and are registered brokers through LPL Financial, who we have a business arrangement with. I have not audited the area, frankly because I don't have the expertise. They undergo occasional audits by LPL, basically file compliance audits. To my knowledge there hasn't been a FINRA exam or anything of that nature. Our Audit Committee is inquiring as to what assurances we have that our Investment services are adequately audited.
What are those of you with folks on site doing investments, through CUNA Mutual or whatever third party, doing to assure your Audit/Supervisory commitee that there is proper oversight and auditing of this function?
Thanks in advance for any help on this subject!
December 29, 2010 - 11:59am
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