Internal Control Questionnaires and Verification Procedures

Organization and Management

Has a current organization plan been developed that shows the structure of the funds transfer function?
Does senior management provide administrative direction for operations of the funds transfer function?
Does management regularly review staff compliance with credit and personnel procedures, operating instructions, and internal controls?
Does management receive and review activity and quality control reports?
Are those reports designed to show unusual activity or disclose system use without proper authorization?
Is management informed of new systems design and available hardware for the wire transfer system?