Former bank - Internal audit sent them out in conjunction with external audit for the annual financial audit.
External audit provided the guidelines and internal audit produced, balanced and mailed confirmations, with all mail going to external audit. IA basically did the grunt work, saving the $100+ per hour external charge. If I remember correctly, they used random on checking and savings, and dollar unit sampling on CD's and loans.
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Integrity. With it, nothing else matters. Without it, nothing else matters.