Required Audits?

Hello all, I'm new to the forum and wanted to introduce myself.

Like many of you here, I'm the sole internal auditor for a small (but rapidly-growing), community bank in Washington charged with setting up an internal audit program. I'm relatively new to internal audit AND banking but I'm finding my experience to be incredibly interesting and fulfilling.

Just completed a comprehensive risk assessment and I'm currently working on the 2007 audit plan. My specific question is this: In another thread, I think 'blue' mentioned BSA/AML, ACH, Trust, and employee accounts to be audits that were required by regulators but I'm wondering if there may be others that you may be aware of.

Know of any other specifically required audits or can you give me some leads on where to research this topic?

Many thanks,

Steve

Since you haven't gotten any replies, I will take a stab.

I think you have a complete list for required annual audits. The frequency and requirements of other audits will be decided by your risk assessment. Your examiners and external auditors and are a good resource for gauging frequency if you are new to this.

Good luck!

Thanks, Spin. I appreciate it.

Just to share, I've become aware of a couple other annually required audits per the FFIEC -- IRR function (in ALM) and IT controls.

This is from a trusted source with years of bank internal audit experience...

You should add FedLine Advantage to the list. While I couldn't find a specific requirement in the regs for an annual audit, it is the examiners expectation. ESK rightly mentions the FFIEC. Take a look at the IS handbooks on their website which suggest a lot of auditing activity. You will really have to priortize and customize here depending on your IT model.