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#2201553 - 12/27/18 07:20 PM Branch audit function priorities
Anonymous
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Input from someone experienced with line managers would be appreciated. A scheduled vault audit was scrapped because one of the employees who were to take part became aware of a teller drawer off age of less than $200 at another branch location. This individual thought that a branch audit of that location should take precedence over the scheduled main location vault audit. This seems to be a misunderstanding of priorities, and / or maybe a call to have a greater number of employees trained to complete (vault) audits ? Is there a concern that the off age that changed the vault audit could have deterred a finding at the main vault?

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#2201555 - 12/27/18 07:25 PM Re: Branch audit function priorities Anonymous
rlcarey Online
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rlcarey
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Galveston, TX
Yes - but what use is a "scheduled vault audit"?
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#2201572 - 12/27/18 08:31 PM Re: Branch audit function priorities Anonymous
Christy Goza Offline
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All our vault audits are random. I am not familiar with a scheduled vault audit. However, a drawer out of balance or an issue with a drawer/teller might pull me in that direction to do a random vault audit at that location.
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#2201576 - 12/27/18 08:52 PM Re: Branch audit function priorities Anonymous
Anonymous
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Sorry I wasn't clear. technically a surprise; I knew as I was asked to attend in a support role. i.e. not running the machines.

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#2201581 - 12/27/18 09:34 PM Re: Branch audit function priorities Anonymous
RockChucker, CAMS Offline
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The Country
It is hard to say if I would be concerned or not give the information provided. It is entirely possible that the need was greater at the other location at that moment. That said, I am surprised that there was not another person that could not step in and assist with the main vault audit.
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#2201584 - 12/27/18 10:09 PM Re: Branch audit function priorities Anonymous
HappyGilmore Offline
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Pulling people out of the ditc...
Originally Posted By Anonymous
A scheduled vault audit was scrapped because one of the employees who were to take part became aware...This individual thought that a branch audit of that location should take precedence over the scheduled main location vault audit...Is there a concern that the off age that changed the vault audit could have deterred a finding at the main vault?


in my devious mind, i'm wondering "what is the person hiding that is trying to get me not to audit the main vault but instead get me to delay that audit and go elsewhere..."

after all, if you are already aware of an outage at another location, it is not like that audit would turn up the outage, it is already known.

but hey, that's just me thinking wacky thoughts...
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#2201595 - 12/28/18 01:12 PM Re: Branch audit function priorities Anonymous
edAudit Offline
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In my experience scheduled vault audits change frequently. Most likely there could be something else suspected at the other location or they just want to confirm that there is no other shortages.

"A scheduled vault audit was scrapped because one of the employees who were to take part became aware of a teller drawer off age of less than $200 at another branch location."

I do not think that a random employee would be able to scrap a vault audit. It may have been a senior member of management. audit or security that did the scrapping. I also do not know what is considered large at your FI. At a few banks in the past a full bank cash count would be for over $100.00. In my opinion not a good use of resources but that was policy.
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#2201609 - 12/28/18 02:10 PM Re: Branch audit function priorities Anonymous
Dog Lady Offline
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Posts: 74
I'm an auditor. There are so many factors to consider here. Maybe the branch where the employee worked was presenting other signs of fraud and the offage event supported those signs, which lead to re-prioritization. That would be especially reasonable if the branch that was supposed to have a vault audit was NOT showing such signs and the audit was going to be routine. Or perhaps the offage had nothing to do with it and was simply a coincidence. Perhaps someone had become aware of the "scheduled vault audit" thereby reducing the effectiveness. Audit is (should be) risk based. It's likely there was a good reason for it.

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#2201761 - 12/31/18 03:17 PM Re: Branch audit function priorities Anonymous
Anonymous
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All good assumptions. Of course, the assumptions also assume there is competent staff making the decisions about where and when to audit the vault.

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