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#365204 - 05/27/05 10:10 PM Dormant Account Audit
Countess Kiwi Offline
Diamond Poster
Joined: Jun 2002
Posts: 1,815
Minnesota
Does your bank prepare dormant account reports regularly? If so, who in the bank has access to the reports? These are questions in the audit program I am using and I was wondering how often others prepare these reports and who would receive the reports. I would agree that management needs to be aware of the dollar volume for dormant accounts, but currently (I KNOW THEY SHOULD BE SEPERATED) the signature cards are not kept seperate so who else would receive the report?

Next question, if you image your signature cards, does your program allow you to restrict access to dormant cards?
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#365205 - 05/31/05 03:39 PM Re: Dormant Account Audit
litmachog Offline
Member
litmachog
Joined: Apr 2004
Posts: 83
Arkansas
Our system, Kirchman, automatically produces this report on a daily basis. Senior Management has access to the reports, branch managers have access and then those in Bookkeeping that are eligible to activate the accounts also have that access.

We are now in the process of imaging the sig cards but we haven't gotten that far yet. I don't see that being a problem if they all have access as employees are limited in access to the Kirchman system which has an online teller system. This restricts the employees to perform transactions on the dormant accounts in the first place.
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#365206 - 06/19/06 02:29 PM Re: Dormant Account Audit
DCorum Offline
New Poster
Joined: Jun 2006
Posts: 1
On the Dormant Audit it states Dormant Signature cards must be kept under dual control. We have our signature cards scanned on the system. When an account goes dormant do we have to delete the scanned signature card from the system?

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#365207 - 06/19/06 02:41 PM Re: Dormant Account Audit
P*Q Offline

Power Poster
P*Q
Joined: May 2001
Posts: 8,458
Somewhere
Our processor produces a dormant account activity report that shows all trans. processed on a dormant account. We have an internal policy that requires the signature of 2 branch folks on the slip (one must be supervisor). If those sigs are not there, a copy of the trans. comes to me for review and inclusion in the branch audit as a violation.

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