Internal Audit And Compliance Department

1373 Words6 Pages
Purpose and Scope: The Internal Audit and Compliance department (IAC) completed an audit of the Carmel Branch. The audit was conducted as of June 9, 2015, with fieldwork being completed during the period June 10, 2015 to September 23, 2015. The design of internal controls is assessed through the objective risk control analysis (ORCA). Controls associated with risks which are ranked equal to or greater than medium are evaluated to determine if they are functioning in the manner intended by management. The audit provides reasonable assurance for the design and functionality of internal controls regarding the functions, processes, and activities listed below. • Opening and Closing Branch Administration/Security • Cash Count • General Fraud – Internal/External • Security • Robbery • Regulatory • Lending • New Share Accounts • Safe Deposit Boxes • Medallion Guaranteed & Signature Validation • Branch Control Survey • System Access • Property All information reviewed by IAC was provided by management and staff of Carmel Branch or was derived from information obtained by IAC from management controlled information systems. Positive Results: 109 of 13 (7769%) areas reviewed had no branch related identified issues. 121 of 13 (9285%) areas reviewed had no organization-wide identified issues. Included are some of the positives: • Cash Count • Security • New Share Accounts Opportunities for Improvement (Organization-wide): Opportunities for improvement represent
Open Document