top of page

Latest Audit Assignments

Audit Mission| 01

Assignment| Treasury front office & Investments Department
​

Audit Sample technique are used through selecting a random sample that is more likely to represent the executed operations through the covered audit period mentioned above.  The specific objectives of this review are as follows:

 

Front office

  1. Existence of approved work procedures.

  2. General Dealing Policies and Controls.

  3. FX & MM dealing transactions.

  4. Counterparties are not advised in time on maturity.

  5. Customer Dealing limits.

  6. Positions Monitoring

  7. FX fluctuations.

  8. Liquidity and Funds.

  9. Investments Treasury bills & bonds and commercial paper.

  10. IT systems & applications.

 

International Investments:-

  1. Existence of approved work procedures.

  2. Approved policy to provide guidelines for establishing and maintaining banking relationships including approval of new relationships, approved service providers, fee negotiation, etc.

  3. QIIB Investment strategy.

  4. Maximum amount of money that can be invested.

  5. Investment performance measured against a set target.

 

Regulatory Compliance

  1. Basel II Requirements.

  2. QCB regulations & other local & international regulations.

  3. Evaluation of Procedures manual.

 

Internal Control

  1. Organization Chart & Job description.

  2. Fraud indicators: (Staff accounts, Staff access rights & Staff vacations).

  3. Follow-up Pending Audit Recommendations.

  4. Correspondent accounts.

Audit Mission| 02

Assignment| Retail Branches
​

The Retail Branch activities consist of the following: 

 

Operation activities

  1. Cash Physical count.

  2. Cash Operations.

  3. Returned Cheques

  4. Keys' custody record.

  5. Security measures.

  6. Overdrawn accounts.

  7. Customers transferred to legal department.

  8. Remittances.

  9. Timely reconciliation of Branch related General Ledger accounts (suspense accounts & manual entries).

  10. Manager cheques.

  11. Cheques under collection.

  12. Inward and outward mail process.

  13. Returned Mail

 

Retail activities:-

  1. Cheque Books.

  2. Customer files.

  3. Customer Accounts.

  4. Plastic cards (Debit Cards, Credit Cards & Captured Cards).

  5. Standing orders.

  6. Safe boxes.

  7. Inactive / Dormant Accounts.

  8. Personal Finance.

 

Compliance

  1. KYC & Anti money laundry.

  2. Basel II Requirements.

  3. QCB regulations & other local & international regulations.

  4. QIIB internal instructions

 

Internal Control

 

  1. Organization Chart & Job description.

  2. Follow-up Pending Audit Recommendations.

  3. General control activities (access rights, dual control, etc).

     

Audit Mission| 03

Assignment| Corporate Credit
​

Audit Sample technique will be used through selecting a random sample that is more likely to represent the executed operations through the covered audit period mentioned above.  The specific objectives of this review are as follows: -

The below scope could be subject to changes during the field work.

 

Operation activities

  1. Compliance with Large corporate policy.

  2. Credit study includes main & secondary sources of repayments, collaterals assessment and proportion of coverage for obligations, customer account analysis, financial highlights and degree of risk presented and recommendations... etc.

  3. Ensuring full compliance with Credit Approvals and continuous follow up on approval terms.

  4. Completeness of all required documents (customer’s application, credit bureau inquiry, credit approval, copies of contracts with the customer and contractors, if any, copy of the client's advice of the credit approval, a copy of the guarantee contracts, recent audited  financial statements... etc.)

  5. Reviewing Engineering services department reports in case of Istisna’s operations.

  6. Existence of periodic follow-up on customer accounts and ensuring that the finance is used for the specific agreed upon purpose

  7. Ensure timely payment for customers due instalments, adequate follow up on past due instalments and adequacy of provisions provided for classified customer accounts.

  8. Validity of the credit ceilings.

  9. Verification of the quality of the overall credit portfolio

 

Regulatory Compliance

  1. KYC & AML procedures.

  2. QCB regulations & other local regulations.

  3. QIIB internal instructions & policies.

  4. Evaluation of Procedures manual.

  5. QIIB last internal audit recommendations.

  6. QCB last audit recommendations.

 

Internal Control

  1. Organization Chart & Job description.

  2. General controls activities: (Staff access rights, Staff vacations … etc.)

  3. Proper safeguarding of department documents.

To see more or discuss possible work let's talk >>
bottom of page