Section 186.15 - Auditing(1) ANNUAL AUDIT. Except as provided in sub. (2), the board of directors shall hire a certified public accountant licensed or certified under ch. 442 or other qualified person to conduct a comprehensive annual audit of the records, accounts and affairs of the credit union.(2) AUDIT COMMITTEE. The board of directors may appoint an auditing committee of one or more capable persons to annually audit the records, accounts and cash of the credit union and to verify member accounts. Verification procedures shall be conducted according to the credit union's bylaws or the rules of the office of credit unions.(3) INDEPENDENT AUDIT. The office of credit unions may order an independent audit at the credit union's expense if the office of credit unions finds an annual audit to be unsatisfactory.(4) AUDIT REPORTS. Audit reports under this section shall be submitted to the board of directors and retained as records of the credit union.1971 c. 193; 1993 a. 482; 1995 a. 151; 2001 a. 16.