Control Intelligence

Bank Account Management

Bank account opening/closing, signatory management, and bank reconciliations.

Sub-Process Score
87/ 100
Strong
9/10 responses received
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Control Objectives (1)

TR-BA-01
COSO P10COSO P11ICFR.TR.BA.01IIA IV.9.2
Bank accounts are opened/closed only with CFO authorization and recorded in a central register.
Risk: Unauthorized accounts enable fraud or regulatory exposure.
Assessment Questions (3)
  • 01Central bank account register is maintained and reconciled to actual accounts.Document
  • 02Signatory lists are recertified at least annually.
  • 03Bank reconciliations are completed within 5 business days of month-end.