What characterizes a thorough response to the draft audit report?
A thorough response addresses each finding contained in the draft audit report in the order presented and includes narrative explanation, documentation, and amendments to disclosure statements, as needed. All documents are clearly referenced with finding numbers, as well as statement and transaction ID numbers (if appropriate). Documents are submitted in the order of the findings and are in the order they are discussed in the narrative. Specific requested documents are included and identified. All documents are legible. CFB staff can follow your response. Please note that a thorough response does not guarantee that all findings will be completely resolved and does not guarantee that there will be no findings of violation and no repayment obligations.
