Bank Audit And Control

Bank audit and control. 4. internal audit process in the bank. Internal audit process. The process of internal audit shall comprise internal audit planning. Engagement. Engagement work programe. Performance standards 2240 Engagement. Performing the Engagement Internal auditors must identify. The types of fieldwork activities. External confirmations, document analysis. Submission of results After completion of the audit. Submission of results revealed shortcomings and irregularities. Reporting. The results of. Internal audit report. Finding 1 It was. The bank board. Follow-up Control. Bank audit and control. 4. internal audit proces in the bank.

Bank audit and control 4. internal audit process in the bank.

The process of internal audit shall comprise: internal audit planning; internal audit performance (verification and assessment of information); submission of results; follow-up.

External confirmations, document analysis, sampling, analytical procedures, direct observation, internal control testing, interview.

Submission of results After completion of the audit, the internal auditor shall be required to submit, within the established time, the report signed by him and by the head of the internal audit unit. The report shall specify: the audited object, period, objectives, performed (outstanding) audit works,.

Submission of results revealed shortcomings and irregularities, threats to future activities of the bank, their relevance, opinions, recommendations on how to improve the situation, achieve planned results, eliminate shortcomings, explanations of the staff and heads of audited structural subdivisions.

Finding 1: It was found that 65 percent of employees of Riga region private banking unit filled in a required form about related persons (1 appendix) and provided it to the Prevention Department. All employees must provide the form about related persons according by the 12 paragraph Company’s Rules on Avoidance and Management of Conflicts of Interest.