Conflict of Interest (Trust Company) Audit Work Program

There are many steps involved in auditing conflict of interests in trust companies to certify their employees are complying with the code of ethics. Among many objectives, this sample audit report aims to ensure that the governing trust instrument authorizes Company B to act as broker, full disclosure of the terms and conditions with which Company A will execute security trades, and that Company A is selling assets between fiduciary accounts that are fair.

Steps covered in this audit work program include: code of ethics; execution of securities; fees to affiliates; fiduciary accounts and assets; securities transaction costs and soft dollar agreements.