Bank Investment Cycle: Control Objectives and Audit Work Program

The principal objective of this document is to assist department management in analyzing the effectiveness of the internal control structure over financial reporting for the investment cycle at a bank. The internal control structure at the cycle level consists of the management control structure (MCS) and the business process controls implemented in the transaction cycle.

Suggested in this tool is an approach to evaluate the MCS within the cycle. The following MCS components are specifically addressed in this tool: assess external and internal risks, establish control environment, and provide reliable and relevant information/support communication processes.