Audimation Services has been acquired by Caseware International Learn More.

X
Icon


Blog Image

Investments

CaseWare IDEA Applications


The following tests are relevant where the accounts are interest-bearing deposits from customers.

 

Analyses

 

  • Stratify balances by size
  • Group accounts by product type
  • Age investment portfolio to analyze interest rate re-pricing risk
  • Stratify portfolio by size
  • Summarize portfolio by type, issuer, interest rate, maturity, etc.
  • Create charts of investment portfolio information

 

Calculations

 

  • Cast (or total) accrued interest
  • Prove interest capitalization, charges
  • Re-perform individual interest calculation

 

Exception Tests

 

  • Extract unusual interest rates or amounts
  • Identify/summarize dormant accounts and identify transactions thereon
  • Identify negative balances
  • Identify accounts with suppressed statements
  • Identify any records that are not complete or up-to-date
  • Test for money laundering
    *Many of the previous tests are applicable to current or checking accounts. There are also a number of tests that can be carried out when searching for money laundering.

 

Other Tests Applicable in Certain Cases

 

  • Identify forward-dated transactions
  • Provide totals of forward-dated transactions
  • Identify overdue maturities
  • Identify customers over their overdraft limit or customers with expired limits
  • Identify dormant accounts and transactions thereon
  • Re-perform currency conversions
  • Provide details of currency exposure
  • Test for cut-off

Areas of Applications , CaseWare IDEA



Posted By

By Audimation Team


Related Posts
Would I Have Found That Fraud?
Jul 20 By Donald E. Sparks, CRMA, CIA, CISA, ARM There’s no shortage of news stories about fraud. From Rita Crundwell who misappropriated more than $53 millio...
From T & E Reviews to Continuous Auditing
May 20 How Data Analysis Tools Empower the Internal Audit Function   Our ominous economic situation has prompted many companies to rethink how they conduct busi...
Exporting Data from 3 Commonly Used Applications
Jun 16 Before any work can be done in IDEA, you’ll first need to acquire the data to be analyzed. Here are the steps to export data from three commonly used a...
BROWSER NOT SUPPORTED

This website has been designed for modern browsers. Please update. Update my browser now

×