We are a $200 million bank. We just purchased 8 branches (up from 3) and will be a $500+ million dollar bank. Currently, I am the only auditor. I work part time, and on a sporadic basis. I was hired 5 years ago for approx 80 hours a quarter. Obviously, with our growth and planned future growth, internal audit needs to change.
Currently, I prepare a risk assessment and schedule audits based on a 1,2,or 3 year cycle.
We outsource compliance, loan review, and information security. In speaking with the CFO, we need to develop an audit plan that mirrors our size.
What suggestions do you have? Is anyone willing to share their schedule and what kind of things I should look at? When I started, I basically took old audit reports from the outsourced internal audit and modified procedures along the way.
For a bank this size, what amount of hours should audit have (given the audits mentioned that are outsourced). Some of the audit areas I cannot see that would take much more time than it does now, regardless of size.
Sorry for the length of post and thanks for your help!