This tool assists department management in analyzing the effectiveness of a bank's internal control structure over financial reporting for the investment cycle. It provides structured tables of questions and control measures designed to assist auditors in their evaluation process, focusing on areas such as authorization, completeness and accuracy, access to assets, and more. This tool helps auditors ensure that banks have proper written procedures and regular reviews of market values and regulatory requirements.

It covers aspects like third-party storage of investment securities, usage of computer systems for financial calculations, reconciliations with general ledger balances and compliance with authorized policies. The document encourages the implementation of best control practices while also emphasizing the need for risk identification and management. 

Monitoring and process controls include:

• Does the bank have written procedures for initiating, reviewing and approving requests to buy and sell investment securities?
• Does the bank require authorized personnel to approve the purchase or sale of investments?
• Does the bank periodically inspect all securities or other evidence of investments owned by the bank?