Auditing Electronic Funds Transfer
Topics will include:

• Overview of the Electronic Funds Transfer Function
• Analysis of Electronic Funds Transfer Sub-Processes
• Internal Audit Objectives and Procedures:

• Wire Transfer
• Automated Clearing House (ACH)
• Internet Banking
• Cash Management
• Remote Deposit Capture
• Mobile Deposit Capture
• NACHA Rules

Auditing the Deposit Function

Topics will include:

• New Accounts
• Dormant Accounts
• File Maintenance
• Overdrafts, Uncollected Funds, and Kiting Suspect Review
• Cash Letter Adjustments
• Item Processing
• Employee Accounts
• Reconcilements

Auditing the Branch Operations Function

Topics will include:

• Surprise Cash Counts
• Consigned Items
• Night Depository
• Hold Mail
• Safekeeping Items
• Regulatory Disclosures
• Security Controls
• Safe Deposit Boxes
• Segregation of Duties Analysis
• Reconciliations

Auditing the Accounting Function
Topics will include:

• General Accounting
• Financial Reporting
• Regulatory Reporting
• Accounts Payable
• Fixed Assets

Recent Trends in Financial Institution Fraud

Financial institution fraud continues to grow at an alarming rate. In this seminar, we will discuss fraud trends, characteristics and schemes.
Topics will include:

• Fraud Statistics

• Suspicious Activity Report (SAR) Filings
• ACFE’s 2022 Report to the Nations
• Pandemic-Related Fraud Schemes

• Fraud Characteristics and Conditions

• Weakness in the system of internal control
• Lack of effective internal audit
• Limited or no review of employee accounts
• Lack of Board involvement or weak Audit Committee
• Poor staff morale or high turnover
• Incomplete or missing documentation
• Inadequate monitoring systems
• Internal Fraud Red Flags

• Fraud Schemes

• Loan Fraud
• Fraudulent Electronic Funds Transfers
• Teller Cash
• Certificates of Deposit
• Identity Theft
• Fictitious General Ledger Entry
• Phishing Scams
• Cyber Threats

FDICIA/SOx Compliance
FDICIA (the FDIC Improvement Act of 1991, as amended) and SOx (the Sarbanes-Oxley Act of 2002) in part, requires banks with assets exceeding $1 billion and/or certain publicly traded companies, to assert that an internal control methodology is in place to assure the integrity of the annual audited financial statements.
Topics will include:

• Project Planning
• Roles and Responsibilities
• Identification and Testing of Key Controls
• Evaluation of Control Deficiencies

Effectively Communicating Audit Results

Topics will include:

• “Top Ten” Techniques for Verbal Presentations
• Audit Report Structure
• Elements of an Audit Finding