bAudit

No systematic way to organize your bank’s audit schedule and human resources? bAUDIT provides an effective, comprehensive assessment framework to assess risk and prioritize the allocation of audit resources.

The bAUDIT framework is an Internet-based tool that evaluates audit risk according to

• Quality of internal controls
• Quality of compliance controls
• Management experience
• Operational complexity
• Transaction volumes
• Period-to-period volume changes
• Turnover of key personnel
• Compliance risk susceptibility
• Monetary loss susceptibility
• Impact on financial reporting
• Use and impact of technology
• Changes in technology

bAUDIT provides a greater understanding of the bank’s operational and risk environment, including internal controls, focusing internal audit efforts on areas of most significant risk and of concern to management and the board of directors.