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 Auditor
AUDIT PROCEDURES WP Ref Initials
1 Obtain and review customer account statements and check that;
- Customer is maintaining minimum balance as per the agreed terms.
- Collection accounts were nullified as per the terms agreed in the service
level agreement.
- Check that no debit is allowed on dormant/ overdrawn and /or partially
blocked accounts

2 For Salary Transfer of corporate customer accounts, ensure that an email

accompanied by a written request on Company’s Letter head to credit
salaries is signed by authorized signatories. If Salary Transfer data is
received through hard copy, then the request must be on company’s letter
head duly signed by two authorized signatories of the respective client.
Ensure that Cash Management officer performs reconciliation of salary
distributed for the month from system generated report with the client’s MIS.

3 Inquire how does centralized cash management unit staff ensure that funds
placed by client in the Dividend Account are utilized exclusively for funding
payments of dividend warrants and no other amount shall be debited to the
client’s dividend account without the prior written consent of client nor will
any set off or counter claim be exercised against the client Account.

4 Check that funds collected in the Initial Public Offering / Term Finance
Certificates accounts are not used without the prior consent of client.
5 Check that debiting of Exchange Companies accounts maintained with the
bank for payouts through sundry are supportive of remittance advices
received.
6 Check that Treasury Back Office arranges for Funds Transfer to the
corresponding bank that has restricted access to SWIFT.
7 Check that an independent reconciliation of remittance transactions is being
regularly performed and timely reported to Central Bank as per defined
frequency.
Time Date Date Checked
Spent Expected Finished Remarks By: