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#1548686 - 05/10/11 02:53 PM Employee Accounts
Tdollar Offline
New Poster
Joined: Jan 2011
Posts: 8
I have a question? Do any of you monitor employee accounts? If so what types of things are you looking for and what does your set up sheet look like? I do feel kind of awkward looking at employee accounts, but our outside auditors when they were hired this was not on their list to do. Any suggestions????

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Audit
#1548774 - 05/10/11 03:44 PM Re: Employee Accounts Tdollar
'Lil Freak! Offline
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'Lil Freak!
Joined: Sep 2005
Posts: 10,596
The psych ward
Here's a prior thread with some good suggestions:

http://www.bankersonline.com/forum/ubbth...rue#Post1448987
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#1549625 - 05/11/11 06:26 PM Re: Employee Accounts 'Lil Freak!
KYWoman Offline
Member
Joined: Feb 2008
Posts: 63
Kentucky
I review employee accounts monthly (employee accounts are on their own cycle). I look for excessive deposits and then trace the deposits, looking for anything unusual. Every 6 months I do a more in-depth "official" audit that is included in my report to the BOD.

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#1549688 - 05/11/11 07:27 PM Re: Employee Accounts KYWoman
happyauditor Offline
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happyauditor
Joined: Nov 2004
Posts: 812
NY
We also look at cash in or cash out aggregated over a period of time (6 months to a year) and sort by high to low. Any aggregate amounts that seems out of the ordinary we then look at the individual transactions and try to determine source and/or destination of funds. If it appears suspicious, it is referred to our fraud area for follow-up.

We also look for account abuse (excessive overdrafts, NSF and fee waivers) as these are violations of our internal policies.
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* My opinion is not necessarily that of my employer.

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