Asset/Liability management audit

Posted By: butercup

Asset/Liability management audit - 08/28/07 01:45 PM

I am looking for an asset/liability management audit. We are FDIC regulated. Any help would be appreciated. PM me.
Posted By: A_G

Re: Asset/Liability management audit - 08/28/07 01:56 PM

Ours are completely outsourced. Asset/liability management is quite a complex area...
Posted By: Jokerman

Re: Asset/Liability management audit - 08/28/07 02:06 PM

This is not something you're going to have much luck "finding" an audit program for. I suggest reading the OCC Handbook on the subject, developing a basic understanding of the issues, discussing with management what it does to manage IRR, and then determining whether or not you can handle the subject. For some banks this is very complicated, and for others it's not.
Posted By: A_G

Re: Asset/Liability management audit - 08/28/07 03:28 PM

and trust me, the examiners (at least ours - Fed) ALWAYS ask to see the results of the asset/liability audits and the supporting workpapers.
Posted By: Jokerman

Re: Asset/Liability management audit - 08/28/07 04:51 PM

BUT, do they understand them?
Posted By: A_G

Re: Asset/Liability management audit - 08/28/07 04:55 PM

You're not kidding...I mean for as little as I understand about the process, I have a general idea. You should see some of the "findings" these examiners come up with. They make no sense at all...I'll pm you in a bit with some rather funny stuff.
Posted By: Jokerman

Re: Asset/Liability management audit - 08/28/07 07:49 PM

There are some who understand and a lot who don't.

I always like how for our annual report, the auditors must have the reports from our model to tie our numbers out.

Me: Do you want to see the assumptions from the model, too?
Them: No, just the output.
Me: Oh, ok then. I'll just make the output say whatever I want.
Them: Ok. Wait...what?