AL HB587

Establishes qualifications for independent IT auditors hired by state-chartered financial institutions to perform audits required by NCUA, FDIC, or Gramm-Leach-Bliley Act regulations.

Requires IT auditors to hold professional certifications such as CISA, CIA, or CISSP.

Requires IT auditors to have a minimum of five years of experience in information technology or at a state or federal-chartered financial institution.

Requires IT auditors to hold certification specified by the Alabama Credit Union Administration (ACUA) or State Banking Department.

Exempts internal IT audits and audits performed by state or federal government agencies from these requirements, effective October 1, 2025.