Yes, I already tried a search on this with no luck. I am sure this must have been addressed at sometime.

My co-worker is taking on the internal audit function. She has attended a basic one or two week school, but continually asks me what she should be doing. I have given her a list of things I could think of off the top of my head, but does anyone know where I might find a list of basic internal audit duties, intermediate and advanced duties also? I've been away from it so long, I may be missing basic stuff.

For example, basic audit would include periodically counting cash, reconciling correspondent bank accounts, balancing/verifying general ledger totals to the balance sheet, direct verification of customer balances, review of account maintenance reports for unauthorized activity, etc. Intermediate might include testing of computer calculations, tracing transactions to assure propriety, etc.

I googled this subject, and all I get are tons of papers explaining the importance of the internal audit function, but nothing saying what duties she should perform.

I have suggested that she not stop at a single school, but have a continuing education program so she can learn more than just from me. I don't feel like I am that great a teacher.

IMO first step should include calling your external auditors. They would be a great resource. Your internal auditor needs to determine which areas need to be audited, risk rate these areas, create an audit schedule, obtain audit procedures and then start auditing.

Nanwa, if what you're asking for are bank functions/processes to be audited and not so much the responsibilities of the auditor in the organization, then I would suggest your co-worker obtain an "audit-in-a-box" type program (by vendors such as Sheshunoff and others) that covers all the functional areas to be audited - individual programs with item-specific tasks, ICQs, risks to aware of, etc.

If she's developing a new audit function or stepping into an existing function for a relatively small bank, then these types of audit programs IMO are perfect starter kits. She can omit and customize to suit the bank's needs.