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> bank audit of accounts as per schedule of charges
bank audit of accounts as per schedule of charges
I. Preliminary Assessment
Review the bank’s schedule of charges and relevant policies.
Verify the audit scope and objectives.
Gather background information on the bank and its financial products.
II. Documentation Review
Collect account opening forms and agreement documents.
Review customer communication regarding charges.
Ensure all terms and conditions are documented and accessible.
III. Charge Validation
Verify the application of charges against the schedule.
Check for correct implementation of fees on various account types.
Confirm the accuracy of transaction records related to charges.
IV. Customer Communication
Review how customers are informed about charges.
Assess the clarity of information provided in statements and notifications.
Evaluate the processes for addressing customer queries and complaints.
V. Compliance Testing
Assess compliance with relevant banking regulations and standards.
Review internal controls related to charge application.
Identify any discrepancies or deviations from established policies.
VI. Reporting Findings
Document findings related to charge application and compliance.
Prepare an audit report detailing observations and recommendations.
Schedule a meeting with management to discuss audit findings.
VII. Follow-Up Actions
Establish timelines for addressing identified issues.
Monitor the implementation of corrective actions.
Plan for subsequent audits to ensure ongoing compliance.
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