I've been recently charged with reviewing the certifications for our accounting, operations, note, and credit departments to determine the necessity of these monthly "audits". To me, these certifications do very little in the way of actually mitigating risk and consume valuable time and resources. For example our accounting department creates subsidiary balance spreadsheets throughout the month and compares the balances to the G/L at month end to ensure the entries are valid...for every account in the GL! I've looked for regulatory guidance on the subject and have not seen much in the way of requirements. Would anyone mind sharing the techniques used at your institution? Does anyone have any ideas how I can streamline these processes to determine which certifications are benefitial? Are there regulatory requirements for certifications? All comments are welcome please!!

Have you asked Management why a subsidiary account is needed for each GL?