In the era of perpetual Banking Regulations, Compliance "tweaking," and the uncertainties from Basel III and Dodd-Frank...it's no wonder the Feds are scrambling to offer resources.
One such effort is the Federal Reserve's "Ask the Fed" call-in sessions, providing information, clarity, and a Q&A session covering a variety of the most Hot Topic issues identified by bankers themselves.
The attached slides are the Key components of the 2/26 call, covering Internal Audit and its Oursourcing, by providing feedback and instruction on SR 03-05...the Reserve's instructional letter to financial instutions on this topic.
It's only going to get more complicated, so the best advice right now is absorb everything available.
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