Research And Markets Research And Markets

Internal Controls in Banking

  • ID: 544640
  • April 1997
  • 140 Pages
  • Oak Tree Press
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"The inspectors are in". These words have for decades struck fear into the hearts of even the most compliant bank managers and staff. What followed was a ritual dance of mutual distrust and, quite often, nit-picking on an heroic scale. Perhaps that style suited the command and control environment of what were simple banks - deposit-taking and lending were the core products, indeed very often the only products.

Today these same banks are financial service conglomerates, offering a wide range of services, some extremely complex and most increasingly regulated. At the same time, competition (and good business practice) means that within defined parameters more decisions are being taken closer to the customer, increasing the risk of fraud or error. Pay for performance has introduced yet another potentially incremental risk factor for financial institutions. Overall, an explosive cocktail for the financial institutions of the 1990s.

Fortunately for the depositor, the science (or is it an art?) of internal controls has not stood still. This book is a welcome addition to the knowledge base of those wanting to understand how state of the art internal controls operate. The various READ MORE >

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About the Contributors

Foreword, David Went

Introduction: Internal Controls in Banking RAY KINSELLA

1. Internal Control in the Computerised Banking Environment ANTHONY WALSH

2. Internal Controls: The EC Response to BCCI JOHN F. MOGG

3. The Bank of England and the Development of Internal Control Systems BRIAN QUINN

4. The Role of Group Audit GRAHAM LEESE

5. Financial Control Systems in the Northern Bank Group JOHN TRETHOWAN

6. Development of Organisational Risk Control Systems CYRIL BENNETT

7. The External Auditor/Reporting Accountant Perspective STEVE ALMOND

8. Internal Bank Controls: An Agenda for Dialogue RAY KINSELLA

Appendix 1 - Section 39 of the Capital Banking Act, 1987

Appendix 2 - Statements of Principles, Banking Act, 1987, The Banking Coordination (Second Council Directive) Regulations 1992


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Note: Product cover images may vary from those shown