Use the structured framework in this audit program sample to assess the integrity and effectiveness of a bank's deposit processes. This audit tool focuses on several key objectives, including authorization, completeness, accuracy, substantiation of balances and access to assets. It provides detailed guidelines for evaluating process controls such as transaction authorization, data entry accuracy, periodic reconciliations and compliance with regulatory requirements.

Additionally, this document includes monitoring controls that ensure ongoing evaluation of the process's effectiveness, such as supervisory reviews and audits. It facilitates a thorough understanding of the bank's control environment by delineating responsibilities and documenting procedures for managing deposit accounts effectively. By using this tool, organizations can systematically verify that financial reporting is reliable and that operational risks are minimized through adequate internal controls within the bank's deposit cycle.

Risks to be addressed include:

• New accounts may be opened for unacceptable customers, resulting in losses to the bank.
• Accounts with unacceptable rates or terms may be obtained.
• Accounts with related parties may be obtained on terms other than at the current market.
• Accounts may accrue interest at an incorrect rate.