Bank Auditing
Definitions (2)
1. An examination and verification of a company's financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant.
2. An audit is an IRS examination of an individual or corporation's tax return, to verify its accuracy. There are three types of audits: correspondence audits (the IRS mails a request for additional information), office audits (an interview is conducted at a local IRS office), and field audits (an interview is conducted at a taxpayer's place of business, for a corporate tax return). Since there is always the chance of an audit, experts recommend keeping good records to support all the information in a return. The reason detailed and accurate bookkeeping is so important is that the burden of proof is on the filer, not the IRS.
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What does a bank auditor do?
A bank auditor monitors the operations of her bank to ensure its compliance with industry guidelines and adherence to measures that deter fraud. Her job generally requires she establish and follow a schedule to regularly check the appropriateness of all business activities. She may work in a large or small financial institution.
In an industry frequently considered highly competitive, a bank auditor reviews the general and specific aspects of daily practices to guarantee her bank remains competitive and maintains the integrity expected by its customers. She scrutinizes every practice from teller transactions through the security of the bank’s vaults and courier services. As an industry professional, she is generally aware of competitors’ procedures. She is typically expected to objectively rate her bank’s performance against others and take measures to improve upon areas that fall short of excellence.
Usually on an annual basis, a bank auditor prepares a list of goals for her bank. These generally relate to increasing the customer base, retention of
1. An examination and verification of a company's financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant.
2. An audit is an IRS examination of an individual or corporation's tax return, to verify its accuracy. There are three types of audits: correspondence audits (the IRS mails a request for additional information), office audits (an interview is conducted at a local IRS office), and field audits (an interview is conducted at a taxpayer's place of business, for a corporate tax return). Since there is always the chance of an audit, experts recommend keeping good records to support all the information in a return. The reason detailed and accurate bookkeeping is so important is that the burden of proof is on the filer, not the IRS.
Read more: http://www.investorwords.com/324/audit.html#ixzz2YHSqnwZ5
What does a bank auditor do?
A bank auditor monitors the operations of her bank to ensure its compliance with industry guidelines and adherence to measures that deter fraud. Her job generally requires she establish and follow a schedule to regularly check the appropriateness of all business activities. She may work in a large or small financial institution.
In an industry frequently considered highly competitive, a bank auditor reviews the general and specific aspects of daily practices to guarantee her bank remains competitive and maintains the integrity expected by its customers. She scrutinizes every practice from teller transactions through the security of the bank’s vaults and courier services. As an industry professional, she is generally aware of competitors’ procedures. She is typically expected to objectively rate her bank’s performance against others and take measures to improve upon areas that fall short of excellence.
Usually on an annual basis, a bank auditor prepares a list of goals for her bank. These generally relate to increasing the customer base, retention of