The phrase "audit responsibilities" is correct and usable in written English.
You can use it when discussing the duties or obligations related to conducting audits within an organization or project.
Example: "The finance department is responsible for ensuring that all audit responsibilities are met in a timely manner."
Alternatives: "audit duties" or "audit obligations".
Audit responsibility of the Supervisory Committee.
§ 715.4 Audit responsibility of the Supervisory Committee.
12 CFR § 715.4 - Audit responsibility of the Supervisory Committee.
One official said that the matter had moved beyond the scope of G.A.O.'s audit responsibility.
To fulfill its Supervisory Committee audit responsibility, a Federally-chartered credit union having total assets of $10 million or less must obtain an annual Supervisory Committee audit as prescribed in § 715.7.
A federally insured credit union which does not choose to obtain a financial statement audit as permitted by subsection (b) must fulfill its supervisory audit responsibility under either of § 715.5 or § 715.6 of this part, whichever is applicable.
To fulfill its Supervisory Committee audit responsibility, a federally-insured State-chartered credit union having total assets of less than $500 million must obtain either an annual supervisory committee audit as prescribed under either § 715.6(a) or § 715.7, or an audit as prescribed by the State or jurisdiction in which the credit union is principally located, whichever audit is more stringent.
To fulfill its Supervisory Committee audit responsibility, a Federally-chartered credit union having total assets of less than $500 million but more than $10 million which does not choose to obtain an audit under § 715.5(a), must obtain an annual supervisory committee audit as prescribed in § 715.7.
For purposes of this part, a credit union's asset size is the amount of total assets reported in the year-end Call Report (NCUA form 5300) filed for the calendar year-end immediately preceding the period under audit. 1 The Supervisory Committee audit responsibility under part 715 can always be fulfilled by obtaining a financial statement audit.
To fulfill its Supervisory Committee audit responsibility, a federally-insured State-chartered credit union having total assets of $500 million or greater must obtain an annual audit of its financial statements performed in accordance with GAAS by an independent person who is licensed to do so by the State or jurisdiction in which the credit union is principally located.
