Get help now

First Keystone Bank

  • Pages 3
  • Words 597
  • Views 836
  • dovnload

    Download

    Cite

  • Pages 3
  • Words 597
  • Views 836
  • Academic anxiety?

    Get original paper in 3 hours and nail the task

    Get your paper price

    124 experts online

    1. Fix a list of internal control procedures that Bankss and other fiscal establishments have implemented, or should implement, for their ATM operations.

    Fiscal establishments should implemented the undermentioned internal control processs. The first 1 is Risk Assessment, which means fiscal institutions’ direction should place, analyzes, and manages hazards that can impact the company. The 2nd one is Control Environment, this process necessitate direction of the establishments attitude toward, consciousness of, and actions refering the internal control construction to in order to cut down the fraud and mistake. The 3rd one is Control Activities, which means that institutions’ direction should ordain specific policies and processs to accomplish the direction aims.

    What’s more, they should take necessary processs to aim the hazards. The forth measure is information and communications. Institutions should garner all necessary information to transport out internal controls. Supplying, sharing and obtaining information is besides really of import, which is called communicating. The last measure is Monitoring. Which is an on-going procedure to measure controls and find whether all the operations are as intended. They changed when operating conditions change.

    2. What general conditions or factors influence the audit attack or scheme applied to a bank client’s ATM operations by its independent hearers?

    The hearer should see the nature, timing, and extent of farther audit processs to do determination. The nature of an audit process include its purpose and its type. So the intent and the type of an audit process will act upon the audit attack. The intent of audit process determines whether it is a hazard appraisal process, a trial of controls, or a substantial process. The types of audit processs include review of certification, review of assets, observation, external verification, recalculation, reperformance, analytical process, scanning, and enquiry.

    Clocking refers to when audit processs are performed or the period or informations to which the audit grounds applies. The higher the hazard of material misstatement, the more likely it is that the hearer may make up one’s mind it is more effectual to execute substantial processs nearer to the period terminal instead than at an earlier day of the month. On the other manus executing audit processs before the period terminal may help the hearer in placing important affairs at an early phase of the audit.

    Extent refers to the measure of a specific audit process to be preformed. The extent of audit process is determined by the judgement of the hearer after sing the tolerable misstatement, the assessed hazard of material misstatement, and the grade of confidence the hearer programs to obtain.

    3. Identify specific audit processs that may be applied to ATM operations. Which, if any, of these processs might hold resulted in the find of the embezzlement strategy at First Keystone’s Swarthmore subdivision? Explain.

    Inspection of certification, observation, recalculation, analytical processs, scanning, and enquiry may be applied to ATM operations.

    I think the undermentioned processs can ensue in the find of the embezzlement strategy. The first 1 is review of certification. Hearers can analyze a client papers and compare it with the exact money they save and take out from the ATM. The 2nd 1 is observation. Looking the process of utilizing the ATM to do certain whether it is used with authorization. The 3rd one is analytical processs. Hearers can analysing plausible relationships among both fiscal and nonfinancial informations of the ATM. The Forth one is scanning. Performing a type of analytical process which involves reexamining accounting informations to place unusual points. For illustration, the sum of money that put in the ATM is non fit the money that really take out by clients.

    This essay was written by a fellow student. You may use it as a guide or sample for writing your own paper, but remember to cite it correctly. Don’t submit it as your own as it will be considered plagiarism.

    Need a custom essay sample written specially to meet your requirements?

    Choose skilled expert on your subject and get original paper with free plagiarism report

    Order custom paper Without paying upfront

    First Keystone Bank. (2017, Sep 15). Retrieved from https://graduateway.com/first-keystone-bank-essay-5714-essay/

    Frequently Asked Questions

    Feel free to contact us anytime, we are always ready to help you!

    What is Keystone bank customer care number?
    You can check your account balance, review your transactions, transfer funds, make payments, schedule transactions, report lost or stolen cards and more. You may also contact a live Keystone Bank customer service representative at 888.266. 9707 from 8:00am to 5:00pm CT Monday-Friday.
    What is the USSD code for Keystone Bank?
    *7111# Keystone Bank USSD service (*7111#) is one of the Bank's strategies to promote financial inclusion. It's a quick, secure and easy way for all Keystone Bank customers to perform banking transactions at their convenience, regardless of their type of mobile device.

    Hi, my name is Amy 👋

    In case you can't find a relevant example, our professional writers are ready to help you write a unique paper. Just talk to our smart assistant Amy and she'll connect you with the best match.

    Get help with your paper
    We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy