Team Structure
Areas of coverage include consumer & commercial banking, digital banking, and treasury management.
What is banking products?
Internal Audit is this line of defense which provides independent assurance and verification.
What is third line of defense?
The person responsible for managing the internal audit function is accordance with the internal audit charter and Global Internal Audit Standards.
What is the Chief Audit Executive?
The stage when performing internal audits where you send the engagement letter, plan objective, scope, and resources.
What is planning?
Area of coverage includes regulatory changes and compliance.
What is banking laws & regulations?
This line is the front-line that handle the day-to-day operations.
What is the first line of defense?
Appropriate governance and oversight by ____________ is essential to enable the internal audit function to be effective.
What is the Board of Directors?
When communicating engagement results Internal Audit conducts a _______________.
What is an exit meeting?
Areas of coverage include technology, operations, information security, and branch operations.
What is banking operations?
This line is responsible for monitoring and reporting, which includes compliance, information security, and loan review.
What is the second line of defense?
All internal auditors are required to conform with these principles, by demonstrating integrity, competency, objectivity, professional care, etc.
What is ethics and professionalism?
Internal Audits are performed based on a _________ audit plan.
What is risk-based?
Areas of coverage include finance, accounting, credit, allowance, HR, and risk.
What is corporate functions?
Concept that describes how different areas of a bank are responsible for different aspects of risk management.
What is line of defense?
The ___________ creates the Global Internal Audit Standards all auditors need to adhere to.
What is the Institute of Internal Auditors or IIA?
When performing Internal Audits you would gather information, analyze data, document reviews, during this process.
What is engagement or fieldwork?