Wire Transfer and Investment Audit Work Program

Use the key steps in this work program to review your company’s electronic funds transfer process, which allows customers to send funds to or from another financial institution.

Project work steps include: determine that policies, practices, procedures and internal controls regarding funds transfers are adequate; ensure that employees involved in funds transfers are operating in compliance with established guidelines; determine that adequate security is maintained over wire transfer operations and system administration; ensure that fund transfers are properly authorized and accurately completed; ensure that proper systems maintenance occurs; etc.