Internal Control and Audits in Banks

Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number

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Overview/Description
Internal controls and strong corporate governance lead to effective and efficient bank operations in which risks are properly managed and depositors' assets are safeguarded. These best practices ensure that stakeholders can put their trust in the financial system. The banking crisis and rapid growth of the banking industry at the beginning of the 21st century created the need for banks to develop strong internal controls and establish good corporate governance. Banks must be audited, both internally and externally, to assess the state of internal controls and corporate governance and address any identified weaknesses. This course introduces internal control processes and internal and external auditing of banks within the prescribed framework of published guidelines by the Basel Committee on Banking Supervision.

Target Audience
Financial services professionals, consultants, and sales professionals interested in providing or selling products and services to fund managers, insurance companies, and banks, and everyone interested in knowing about banking supervision and anti-money laundering regulations

Expected Duration (hours)
1.0

Lesson Objectives

Internal Control and Audits in Banks

define the main objectives of the internal control process

identify the key elements that make up the internal control process

recognize the process and elements of the internal control process

recognize the features of an effective internal audit

identify the internal audit responsibilities

recognize the features and responsibilities of an internal audit

identify the external audit principles set out by the Basel Committee

order the various stages of an external audit

recognize the principles and various stages of an external audit

Course Number:
fini_05_a02_bs_enus