Exception Reports Generated by the Lending Institution Are Designed to Identify

Exception reports generated by the lending institution are designed to identify past-due loans. Auditors should review these exception reports to identify an unusually high number of exceptions and old or unusual exceptions that might indicate that:

A) The institution is not following up on exceptions in a timely manner
B) The institution is following up on exceptions in a timely manner
C) The auditor is not following up on exceptions in a timely manner
D) The competitor is not following up on exceptions in a timely manner

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