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#302782 - 01/12/05 08:07 PM Suprise Audits of Cash Drawers

Hi there,

Does your institution perform surprise audits on teller drawers? If so, who would perform these audits. Any feedback is appreciated.


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Operations Compliance
#302783 - 01/12/05 08:18 PM Re: Suprise Audits of Cash Drawers
Tricia Offline
Gold Star
Joined: May 2004
Posts: 458
Smack dab in the middle of IL
We do suprise audits on teller drawers. These audits are done by me, I am the assistant vice president and my duties include compliance, internal controls, human resource, and whatever else needs to be done (we are a small bank and I wear many hats). I have heard that at some banks the head teller or supervisor would do them.
Life is the willingness to be yourself and live in harmony with others. - Dr. Cherie Carter-Scott

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#302784 - 01/12/05 08:48 PM Re: Suprise Audits of Cash Drawers
AMXSteve Offline
Joined: Jun 2001
Posts: 75
Wilmington, OH, USA
We have 48 branches. The Service Manager (Assistant Manager) is responsible for performing surprise cash drawer audits on each CSR every month. All CSR's are to be audited during the month. The audits are also supposed to be spread out throughout the month so that a pattern is not established (e.g. the manager always audits the CSR's the last week of the month - the CSR's would easily figure out when the audits are coming.)

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#302785 - 01/13/05 10:46 AM Re: Suprise Audits of Cash Drawers
TB Offline
Joined: Aug 2004
Posts: 92
I perform all surprise audits on my tellers as well as a monthly inspection for adherence to cash drawer limitations.

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#302786 - 01/13/05 02:07 PM Re: Suprise Audits of Cash Drawers
threereds Offline
100 Club
Joined: Nov 2002
Posts: 115
Western New York State
We actually have a group of individuals that perform the surprise audits. It consists of the auditor, HR, Security Officer, Compliance Officer, Branch Administrator, and IT Vice President.

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#302787 - 01/13/05 09:20 PM Re: Suprise Audits of Cash Drawers
QCL Offline
Power Poster
Joined: May 2002
Posts: 6,259
We have 5 branches. Surprise audits (timing and staff to be audited) are dictated by me (the Auditor) either the teller supervisor or the COO at each branch performs this function. They are done every 3 weeks or so.

On a weekly basis, the teller supervisor reports cash limits to me for all drawers.

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#302788 - 01/13/05 09:58 PM Re: Suprise Audits of Cash Drawers

At my current bank it is done by our auditor and operations manager. At my old bank I as the security officer was asked to be responsible for it, but I always had the auditor help because our external auditors and examiminers always asked if they did it. The main thing is independence and swift action when significant problems are found. I don't think titles matter too much.

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#302789 - 01/13/05 10:36 PM Re: Suprise Audits of Cash Drawers
simbanker Offline
New Poster
Joined: Mar 2004
Posts: 21
We have nine branches, and all tellers must be audited at least once within 90 days; vaults every month. I (AVP--operations) set up the schedules so that they are done on a random basis, and the teller supervisors or operations managers at the branches actually complete the audits. They return them to me, and I reconcile them to the GL.

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#302790 - 01/14/05 03:03 PM Re: Suprise Audits of Cash Drawers

Simbanker makes a good point. If you don't reconcile the audit back to the G/L, it was pointless. It is very easy for a teller to run a quick cash out on their teller machine to force themselves to balance for an audit. (Why do we always find these things out the hard way-$$?)

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