(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.]