Internal Audit

Topics: Debit card, Fraud, Credit card Pages: 2 (336 words) Published: August 6, 2013
#2
a. Preliminary conclusions:
a. The 2 reports credit card and debit card transactions and the list of transactions declined by the bank do not have the same time scope. The first cover May 7-14 while the other covers May 6-14 b. One declined transaction is not in the list of the credit card and debit card transaction. Card 4567-3672-6919 dated May 10th 2011 with amount $34.69 c. 2 of the declined transactions were duplicate transactions in the credit card and debit card transactions. They were transacted a few seconds after the first transactions which were approved. d. 2 of the declined transactions were perfect rounded numbers $20 and $30 unlike the other transactions b. Additional analysis that I would recommend to be performed and to obtain other indicator to help plan the audit e. List the details of the 2 declined transactions that were exact round numbers f. Add employee details in the transaction list

g. Expand the time scope of the first report to coincide with the second report h. Get the details of the missing declined transaction i.
c. Additional controls and procedures I recommend
j. Daily update of transaction to server
k. Daily reconciliation of reports to produce exception reports earlier l. Increase details in report to add employee #
m. Employee should swipe the ID or punch in their private ID code in the cash machine to identify who is handling the transaction n. Rotation should be improved. Simplify to increase controls o. Owner should visit more than once a week and focus more on the administrative side of business to increase controls and governance.

#3. PowerPoint presentation
Slide #1

Definition of Fraud

Good morning, ladies and gentlemen.

Slide #2

1. Causes and Impact of Fraud

Slide #3

1. Fraud responsibility
*

Slide #4
Fraud Prevention
Policies
investigation

Slide #5 -...
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