Section 173-700-413. Random audits.

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(1) The department may conduct random audits during the operational life of a bank.

(2) The audit may include the department contacting the local jurisdiction(s) and the county auditor's office to verify all transactions listed in a bank's ledger.

(3) In the event of an audit, the sponsor must provide all supporting documentation requested by the department in order to verify transactions listed in the bank's ledger.

(4) Unexplainable discrepancies between the public records and the bank's ledger may result in the department initiating compliance actions under WAC 173-700-600 through 173-700-603.

[Statutory Authority: Chapter 90.84 RCW. WSR 09-19-013 (Order 04-13), § 173-700-413, filed 9/3/09, effective 10/4/09.]

Chapter 90.84 RCW. WSR 09-19-013 (Order 04-13), § 173-700-413, filed 9/3/09, effective 10/4/09.

Rules

173-700-600,173-700-603,

                    
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