Our Consumer Credit Lending Audit Work Program serves as a guide for conducting thorough and effective audits. It outlines detailed work plans, including project timing, project work steps, and the initial index, aiding auditors in planning, fieldwork and report issuance. The document includes two samples that provide a roadmap for auditing various aspects of the consumer credit lending process, such as reserve and discount for new loans, evaluation and approval of credit, review of company policies, and handling of complaints.

Practically, this document can be used as an audit checklist to ensure all critical areas of consumer credit lending are assessed. For example, it provides steps for reviewing prior internal audit reports, understanding approved credit policies, and evaluating the authorization of borrowers. Additionally, it guides auditors through the process of examining loan applications and scoring information, assessing the implementation of prior recommendations, and coordinating with external auditors and compliance departments. This document is an essential tool for auditors aiming to ensure that lending operations adhere to management's written criteria and comply with relevant regulations.

Sample steps include: 

• Recalculate the consumer credit board delinquent report and trace applicable figures to the previous month’s report
• Trace applicable figures to the delinquent loan trial balance
• Recalculate all the percentages and note any discrepancies
• Prepare a summary of all general ledger accounts of the consumer credit department