AUDIT PROCEDURES – CASH AND CASH ITEMS

AUDIT PROCEDURES – BANK SECRECY ACT1. Complete the Internal Control Questionnaire.2. Review prior audit reports (internal and external) and determine if any notedviolations or weaknesses were corrected.3. Based on the evaluation of internal controls and the work performed by theexaminers, determine the scope of the audit.4. Determine if the Board has adopted a written compliance program that ensurescompliance with all reporting and record keeping requirements of the BSA(including SAR requirements), anti-money laundering provisions and contains thefollowing required elements:! A system of internal controls to ensure ongoing compliance;! Independent testing for compliance conducted by either bank personnel or anoutside party! Designation of a qualified individual(s) responsible for coordinating andmonitoring day-to-day compliance.! Training for appropriate personnel5. Determine if anti-money laundering policies, procedures, and programs address:• Identifying and reporting money laundering in its different forms (placement,layering, and integration);• Identification of high-risk activities, businesses, and countries;• Development of a system for detecting, monitoring, and reporting suspiciousactivity;• Establishment of a comprehensive program for opening and maintainingaccounts and establishing other customer relationships to include proceduresfor identifying, documenting, and verifying customer information.• Compliance with OFAC regulations;6. ...