The principal objective of this tool is to help department management analyze the effectiveness of the internal control structure over financial reporting for the expenditure payroll cycle at a bank. It outlines a structured approach for identifying potential areas of risk, evaluating the adequacy of existing controls and suggesting improvements. This includes detailed procedures for conducting audits, from planning through to execution, which ensures thorough coverage of all critical aspects of the organization's operations. The document also emphasizes the importance of compliance with relevant laws and regulations.

Additionally, it highlights the role of technology in auditing processes by introducing tools that can automate and streamline tasks, thereby increasing efficiency and accuracy. By delineating best practices and methodologies, this document serves as a vital resource for auditors to enhance their understanding and capabilities in performing rigorous audits that contribute to the overall integrity and accountability of organizational processes.

Under this work program, selection criteria used by banks frequently specify standards with respect to the following:

• Planned personnel levels
• Prior banking experience and minimum skill levels
• Citizenship
• Personal integrity