2023 NCBA Internal Audit Seminar
CPE: This program WILL be submitted for CPE. Stay tuned for details!
Agenda:
November 1, 2023 – Breaks will take place throughout the day.
Introduction | 9:00 – 9:30 |
Auditing Electronic Funds Transfer | 9:30 – 10:30 |
Break | 10:30 – 10:45 |
Auditing Electronic Funds Transfer (continued) | 10:45 – 11:15 |
Auditing the Deposit Function | 11:15 – 12:00 |
Lunch | 12:00 – 1:00 |
Auditing the Deposit Function (continued) | 1:00 – 1:30 |
Auditing the Branch Operations Function | 1:30 – 2:30 |
Break | 2:30 – 2:45 |
Effectively Communicating Audit Results | 2:45 – 4:00 |
November 2, 2023 – Breaks will take place throughout the day.
Introduction | 9:00 – 9:05 |
FDICIA/SOx Compliance | 9:05 – 10:30 |
Break | 10:30 – 10:45 |
FDICIA/SOx Compliance (continued) | 10:45 – 12:00 |
Lunch | 12:00 – 1:00 |
Auditing the Accounting Function | 1:00 – 2:30 |
Break | 2:30 – 2:45 |
Trends in Financial Institution Fraud | 2:45 – 4:00 |
Program Summary:
The North Carolina Bankers Association is happy to announce that Crowe LLP will present a two-day internal audit seminar covering the following topics:
Auditing Electronic Funds Transfer
This seminar will be a practical, “hands-on” discussion of effective practices in auditing the Electronic Funds Transfer function. Topics will include:
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- Overview of the Electronic Funds Transfer Function
- Analysis of Electronic Funds Transfer Sub-Processes
- Internal Audit Objectives and Procedures:
- Wire Transfer
- Automated Clearing House (ACH)
- Internet Banking
- Cash Management
- Remote Deposit Capture
- Mobile Deposit Capture
- NACHA Rules
Auditing the Deposit Function
This seminar will be a practical, “hands-on” discussion of effective practices in auditing the Deposits function. Topics will include:
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- New Accounts
- Dormant Accounts
- File Maintenance
- Overdrafts, Uncollected Funds, and Kiting Suspect Review
- Cash Letter Adjustments
- Item Processing
- Employee Accounts
- Reconcilements
Auditing the Branch Operations Function
This seminar will be a practical, “hands-on” discussion of effective practices in auditing the Branch Operations function. Topics will include:
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- Surprise Cash Counts
- Consigned Items
- Night Depository
- Hold Mail
- Safekeeping Items
- Regulatory Disclosures
- Security Controls
- Safe Deposit Boxes
- Segregation of Duties Analysis
- Reconciliations
Effectively Communicating Audit Results
To be effective, an internal auditor needs to positively communicate audit issues both verbally and in writing. This seminar will present the following topics:
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- “Top Ten” Techniques for Verbal Presentations
- Audit Report Structure
- Elements of an Audit Finding
FDICIA/SOx Compliance
FDICIA (the FDIC Improvement Act of 1991, as amended) and SOx (the Sarbanes-Oxley Act of 2002) in part, requires banks with assets exceeding $1 billion and/or certain publicly traded companies, to assert that an internal control methodology is in place to assure the integrity of the annual audited financial statements. This seminar will present the following topics:
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- Project Planning
- Roles and Responsibilities
- Identification and Testing of Key Controls
- Evaluation of Control Deficiencies
Auditing the Accounting Function
This seminar will be a practical, “hands-on” discussion of effective practices in auditing the Accounting function. Topics will include:
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- General Accounting
- Financial Reporting
- Regulatory Reporting
- Accounts Payable
- Fixed Assets
Recent Trends in Financial Institution Fraud
Financial institution fraud continues to grow at an alarming rate. In this seminar, we will discuss fraud trends, characteristics and schemes. Topics will include:
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- Fraud Statistics
- Suspicious Activity Report (SAR) Filings
- ACFE’s 2022 Report to the Nations
- Pandemic-Related Fraud Schemes
- Fraud Characteristics and Conditions
- Weakness in the system of internal control
- Lack of effective internal audit
- Limited or no review of employee accounts
- Lack of Board involvement or weak Audit Committee
- Poor staff morale or high turnover
- Incomplete or missing documentation
- Inadequate monitoring systems
- Internal Fraud Red Flags
- Fraud Schemes
- Loan Fraud
- Fraudulent Electronic Funds Transfers
- Teller Cash
- Certificates of Deposit
- Identity Theft
- Fictitious General Ledger Entry
- Phishing Scams
- Cyber Threats
- Fraud Statistics
Accommodations:
Hotel: Hampton Inn & Suites Raleigh Midtown by Hilton
Address: 1229 Wake Towne Drive, Raleigh, NC 27609
Distance from hotel to NCBA Office: 1.5 miles
Directions to book:
Using the web:
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- Click here to access the hotel website.
- Select the dates you need
- Click Special Rates
- Enter Corporate Account # 2641069
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Using your Hilton Honors App
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- Search Hampton Inn & Suites Raleigh Midtown
- Select your dates
- Select “Special Rates” tab
- Enter Corporate # 2641069 into “Corporate Account” field.
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Your 18% discount will automatically be applied.
Speakers:
- E. Michael Thomas, CPA, CIA, CBA, CFE, CRP, CFF, CRMA
Mike Thomas is an Internal Audit/Fraud Prevention Consultant, specializing in the banking industry. Mike recently retired as a Partner in Crowe LLP’s Financial Institution Risk Consulting practice in the Southeastern United States. He has over forty years of broad-based experience, specializing in the banking industry. While at Crowe LLP, Mike’s responsibilities included advising clients in areas such as risk management, fraud prevention and quality assurance assessments. In addition, he coordinated contract services for internal audit, information technology audit, loan review and compliance outsourcing at financial institutions, as well as working with clients to re-engineer their internal audit, risk management and fraud prevention functions. Prior to joining Crowe LLP, Mike was an Internal Audit Services Director for PricewaterhouseCoopers LLP and served as Vice President & Audit Group Manager for SunTrust Banks (now Truist).
Mike is a frequent lecturer on internal audit, risk management, fraud prevention and banking related topics. He is a Distinguished Faculty Member of the Institute of Internal Auditors, an Adjunct Faculty Member of the Association of Certified Fraud Examiners and has been an instructor for the Bank Administration Institute, the Financial Manager’s Society, the Credit Union National Association, the America Bankers Association and the Georgia, Alabama, Louisiana, Tennessee, Missouri and Florida Banker’s Associations. Mike is a member of the Institute of Internal Auditors, the Association of Certified Fraud Examiners and the Bank Administration Institute.
Mike holds a BBA degree in Accounting from Columbus State University and is a graduate of the Bank Administration Institute’s School for Bank Administration (Internal Audit Management). He is a Certified Public Accountant, Certified Internal Auditor, Certified Bank Auditor, Certified Fraud Examiner, Certified Risk Professional, is Certified in Financial Forensics and has a Certification in Risk Management Assurance.
- Darren Shuster, CIA
Darren Shuster is a Senior Manager in Crowe LLP’s Financial Institution Risk Consulting practice in the Southeastern United States. He is responsible for managing internal audit and risk consulting services in a wide range of industries and companies. As a Senior Manager, Darren has been responsible for engagement planning, client communications and coordination, identifying risks, controls, gaps and creating remediation plans, testing design and/or operating effectiveness of controls, performing inquiries and walkthroughs, learning client’s processes, managing resources at multiple levels, and building client relationships. Darren also leads Crowe’s efforts in implementing COSO and SOx 404 internal control design and documentation activities at financial institution clients and developing methodologies for performing these activities.
Darren primarily specializes in financial institutions ranging from small community to multi-billion dollar financial institutions. His primary expertise is in the area of mortgage banking, fraud risk assessments, as well as in FDICIA and SOx control design and implementation. Darren is a member of the Institute of Internal Auditors.
Darren holds a BBA degree in Finance from Miami University and is a Certified Internal Auditor.
- Stacia Vernon, CFE
Stacia Vernon is a Senior Manager in Crowe LLP’s Financial Institution Risk Consulting practice in the Mid-Atlantic United States. Stacia has over 10 years of experience providing risk-based operational consulting services and leading engagements for financial service organizations. Stacia is primarily responsible for end-to-end project management, including planning and managing internal audits, assessing the design and operating effectiveness of internal controls and reporting key findings and recommendations to key stakeholders including management, the Audit Committee, and those charged with governance.
Stacia’s primary areas of expertise are financial institution internal audit and risk management. Stacia has industry expertise in asset and liability management (ALM) and interest rate risk (IRR), Sarbanes-Oxley/FDICIA, the COSO internal control assessment, trade finance, and foreign-owned banking. Her responsibilities include oversight of Crowe services teams for all services provided to our clients, the performance of risk assessments, creation of remediation plans, and identification of value-add recommendations.
Stacia holds a BS degree in Accounting from Miami University and is a Certified Fraud Examiner.
About Crowe LLP:
Crowe LLP (www.crowe.com) is a public accounting, consulting and technology firm with offices around the world. To serve its clients, Crowe combines deep industry knowledge and specialized expertise with innovation. Crowe uses its deep industry expertise to provide audit services to public and private entities. The firm and its subsidiaries also help clients make smart decisions that lead to lasting value with its tax, advisory, risk and performance services. Crowe is recognized by many organizations as one of the best places to work in the U.S. As an independent member of Crowe Global, one of the largest global accounting networks in the world, Crowe serves clients worldwide. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.