Document Imaging!

Posted By: Happy Drugs

Document Imaging! - 03/19/07 06:04 PM

I need help from someone on what steps I need to take from the Audit side on this. I have been in banking 35 years, the last 18 as IT Supervisor, but my new position as Compliance/Audit has a new challenge for me. We are going to use Wolters Kluwer Financial Services document imaging. I realize we need to have security in place, policy and procedures, but what else do I need to know and do from an Auditor stand point, are there compliance issues with this. This is my first job to tackle that does not have anything in place for it, so I want the have as much knowledge and understanding when I am approached for my findings.
Posted By: Rosie O'Grady

Re: Document Imaging! - 03/19/07 10:57 PM

In addition to all the general IT issues you would normally audit, I would suggest that you do a vendor review of your imaging system and also consider record retention, especially on Patriot Act. We discovered during a Records Audit that all of our CIP information was in the loan file (not imaged) and required that we keep it 5 years past account closure. Yikes!