TWO: LITERATURE REVIEW 1. Introduction 2. Types of Bank Frauds 3. Causes of Fraud 4. Effects of Fraud on Banks 5. Internal Audit function 6. Fraud and Internal Audit 7. Fraud Prevention 1. General Measures 2. Specific Preventive Measures 8. Elements of Fraud Auditing 9. Measures of Controlling Fraud in Banks 10. Statement of Internal Audit Standard No. 3 2.10.1 Deterrence of Fraud CHAPTER THREE: Research Methodology 1. Area of Study 2. Research Design 3.
Premium Internal audit Internal control Bank
from most other commercial enterprises: 1. Security: They have custody of large volumes of monetary items‚ including cash and negotiable instruments‚ whose physical security has to be ensured. This applies to both the storage and the transfer of monetary item and makes banks vulnerable to misappropriation and fraud. They‚ therefore‚ need to establish formal operating procedures‚ well-define limits for individual discretion and rigorous systems of internal control. 2. Complexity: They engage in a
Premium Bank Internal control Audit
Question 1 Management audit is a term used to describe the kind of audit work carried out to look into the economy‚ efficiency and effectiveness of the organization and its component parts. Efficiency in this sense has to do with determining whether resources (personal and property) are being used optimally within the bounds of what is practically feasible. Effectiveness involves determining whether resources are being used to proper effect. Economy relates to the avoidance of unnecessary waste
Premium Financial audit Auditing Audit
Very simply put‚ strategic planning identifies where the organization wants to be at some point in the future and how it is going to get there. The "strategic" part of this planning process is the continual attention to current changes in the organization and its external environment‚ and how this effects the future of the organization. Skills in strategic planning are critical to the long-term success of your organization. This form of planning includes: a) Taking a wide look around at what
Premium Strategic management Management
Abnormally High Audit Fees Impair Audit Quality? Jong-Hag Choi‚ Jeong-Bon Kim‚ and Yoonseok Zang SUMMARY: This study examines whether and how audit quality proxied by the magnitude of absolute discretionary accruals is associated with abnormal audit fees‚ that is‚ the difference between actual audit fee and the expected‚ normal level of audit fee. The results of various regressions reveal that the association between the two is asymmetric‚ depending on the sign of the abnormal audit fee. For observations
Premium Audit Financial audit Auditor's report
shareholders and controlling directors for the company. The company expands into provision of engineering services as part of their business diversification and expansion plans. The company had maintained a very lean organization with basic functional positions. DESB employed their own family members to work in the company with minimal education background and some of them did not have the necessary job experience. In May 2006‚ the company had employed Cik Amy‚ a fresh graduate from local university
Premium Financial audit Financial statements International Financial Reporting Standards
Establishing‚ Presenting and Using Outcome Measures ∗ Outcome measures are important to accreditation and other forms of evaluation. Outcome measures are quantifiable indicators that gauge productivity‚ in this case productivity of a school or graduate program of public health. Although this paper refers to schools‚ the information and advice herein are also applicable to graduate programs outside schools of public health. These quantifiable indicators may represent a school in its entirety‚ or an
Premium Assessment College Education
BSA 700: The Auditor’s Report on Financial Statements Prepared By Abdullah-Al- Mamun The auditor should review and assess the conclusions drawn from the audit evidence as obtained as the basis for the expression of an opinion on the financial statements. Basic Elements of the Auditor’s Report The auditor’s report includes the following basic elements ordinarily in the following layout: a) Title b) Addressee c) Opening or Introductory Paragraph- i) Identification
Free Auditor's report
Indentify and assess NGOs for long term institutional strengthening through Organizational Development intervention and help partner NGOs develop planning‚ monitoring and evaluation systems‚ design and undertake strategic planning exercises‚ maintain record of Organizational Development (OD) partner’s database. • Coordinate the Staff Development Plan for
Premium Aga Khan IV Aga Khan Development Network Organization
Audit Objectives: a. Determining that cash on hand as shown in the general ledger is represented by currency and coins on hand. b. Determining ownership and proper accountabilities c. Ascertaining that cash balances are available without restrictions. Audit Procedures: a. Examination of cash proof sheets and tracing of their totals to the general ledger b. Test tracing of deposit or withdrawal slips to individual subsidiary ledgers and vice
Premium Bond Bookkeeping