Internal Control Questionnaires and Verification Procedures

Loan Interest

1. Is the preparation and posting of loan interest records performed or reviewed by persons who do not also:

   1. Issue official checks and drafts singly?

   2. Handle cash?

2. Are independent interest computations made and compared or tested to initial loan interest record by persons who do not also:

   1. Issue official checks and drafts singly?

   2. Handle cash?

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