Auditing Call Reports: Best Practices for Documentation and Review

• OVERVIEW

With regulatory agencies increasingly relying on the Call Report as an effective way to monitor and remotely supervise banks, there is greater emphasis on Call Report accuracy. In addition, regulators are more frequently including a Call Report review during on-site examinations. It is imperative that Call Report preparers, reviewers, and auditors understand regulators' expectations regarding Call Report accuracy, as well as the bank's procedures for preparation and review. This session will highlight key audit areas, common errors, and best practices for performing and documenting the review of quarterly Call Reports.

• LEARNING OBJECTIVES
• Knowing the regulators that receive a copy of a bank's audit call report
• Knowing a regulator's use of the report
• Understanding the content of the audit call report
• Focus on primary components
• Managing audit call report preparation and review
• Identifying inaccurate and/or inconsistent information
• Value of an audit call report to the reporting institution

• WHY SHOULD YOU ATTEND

National Banks, State Member Banks, and Insured Non-Member Banks are all responsible to submit audit call reports on a quarterly basis. Highly important that audit call reports are prepared accurately and consistent with other financial information reporting. This presentation is designed to be of value to audit call report preparers, contributors and reviewers as well as to senior business managers.

• AREAS COVERED
• Call Report objectives
• Regulators use Call Report information
• Regulators expectations for internal review processes
• Key Call Reporting areas and steps for auditing/reviewing those areas
• Internal controls for review and audit
• Best practices for documenting Call Report preparation and review
• Avoiding inaccuracies and inconsistencies
• Commonly misreported items
• Audit call report preparation and review responsibilities

• WHO WILL BENEFIT?
• Call Report preparers
• Call Report reviewers
• CFOs
• Controllers
• Internal auditors
• Compliance officers
• Senior business managers