Section 13Sec./Art. 13

Bank Auditor Reports. The Veterans Bank shall have its own auditing department, the head of which shall be appointed by the Board of Directors preferably from among recognized veterans or their heirs of good standing who are certified public accountants and with actual experience in the work of a comptroller or auditor. The auditor shall not suffer any diminution in salary during the auditors term of office, and may not be removed except for cause.

The auditor shall make a report to the Board of Directors and to government regulatory authorities on the condition of the Veterans Bank. The Board of Directors shall set the frequency of submission of the auditors report to the Board, subject to BSP rules and regulations.