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#379651 - 06/30/05 08:35 PM Wire Transfers Audit
Anonymous
Unregistered

I am in the process of doing an audit of the wire transfers department using the FFIEC handbook. This is not my first wires audit, but the first one I've completed at the bank I am at. I am asking questions based on information from the handbook, but cannot seem to get management and personnel to understand what I want. I need any advice on how to get them to understand the difference between reconciling the federal reserve general ledger account and reconciling wire transfer activity; as well as the difference between the master user ID and user codes. Any help will be appreciated!

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Audit
#379652 - 06/30/05 10:50 PM Re: Wire Transfers Audit
Anonymous
Unregistered

Regarding reconciling the Fed account, maybe you're talking to the wrong people. The group reconciling the Fed account is probably in your Accounting unit whereby the wire department should be verifiying the daily wire activity against the Fed's daily wire totals. Regarding the master user ID vs. user codes, you have a finding if they don't know the difference.

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