The purpose of this module is to introduce you to the principles of internal auditing for liabilities. After completing this module, you will understand the overall objectives for auditing liabilities, which will enable you to design and implement better audit programs and procedures when auditing liabilities.
This module will provide internal auditors with the tools needed to implement better audit programs and procedures when auditing liabilities.
This course includes an examination.
Learning Objectives:
Test the policies, procedures, processes and controls at your bank concerning liabilities to ensure function and compliance.
Course Outline:
o Key concepts
o Audit objectives
o Deposit risk
o Common controls
o Special attention
o Understanding the confirmation process
o Reviewing employee accounts
o Internal use accounts
o Check kiting and monitoring the use of uncollected funds
o Policy
o Internal control questionnaire
- Official Checks and Other Liabilities
o Audit objectives for official checks
o Warning signs
o Audit objectives for night depository, safe deposit boxes, and internal bank accounts.
o Government sponsored entity advances
o Federal funds purchased
o Repurchase agreements
- Auditing Remote Deposit Capture (RDC)
o Remote deposit capture
o Mitigating RDC risk
o RDC contracts
o Audit objectives
- Auditing Wire Transfer and ACH Activities
o The basics of wire transfer and ACH functions
o Key controls that should be in place surrounding the wire transfer and ACH activity
o Important wire transfer terminology
o Internal controls for wire transfer and ACH activity
Duration:
0.83 hours
Features:
Audio, hybrid
Module(s):
6291EN
