Effective internal control practices in banks : a practitioner's aid

In the wake of numerous global banking scandals and regulatory failures, governments and banking regulators around the world have introduced stringent internal control laws within their financial institutions to safeguard against fraud, financial misreporting, and systemic failures. Effective Intern...

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Bibliographic Details
Main Author Velez, Sophia Beckett (Author)
Format Electronic eBook
LanguageEnglish
Published Bingley, U.K. : Emerald Publishing Limited, 2025.
Subjects
Online AccessFull text
ISBN9781836629740
DOI10.1108/9781836629726
Physical Description1 online resource (194 pages)

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500 |a Includes index. 
504 |a Includes bibliographical references. 
505 0 |a Part 1. Lack of effective internal controls in banks and significant financial institutions (sifis) -- Chapter 1. Banks and sifis failure to implement effective internal controls -- Chapter 2. Significant losses incurred by large banks and sifis due to internal control weaknesses -- Chapter 3. Global economic limpact due to weak controls in banking and financial services -- Chapter 4. Sarbanes oxley 2002 (sox) and control environment -- Part 2. Government sox regulations of banks and sifis control environment -- Chapter 5. Importance of effective internal control to company's control environment -- Chapter 6. Challenges to the effective implementation of sox requirements -- Chapter 7. Regulators, auditors, and process owners failures in sox certification process -- Chapter 8. Internal control framework (preventive, detective, monitoring, automated) design -- Part 3. Bank leadership consensus on designing effective control environment -- Chapter 9. Systems and the automated control environment -- Chapter 10. Risk identification and communication -- Chapter 11. Timely reporting and escalation -- Chapter 12. Internal control effective practices. 
520 |a In the wake of numerous global banking scandals and regulatory failures, governments and banking regulators around the world have introduced stringent internal control laws within their financial institutions to safeguard against fraud, financial misreporting, and systemic failures. Effective Internal Control Practices in Banks: A Practitioner's Aid offers a comprehensive exploration of best practices in designing and implementing robust internal control environments in banks and public companies. Author Sophia Beckett Velez delves into the essential components of internal controls--control environment, risk assessment, control activities, information and communication, and monitoring--offering strategies to mitigate risks and prevent breaches. This valuable work offers an original contribution to the study of internal controls in banking, providing useful insights for undergraduates, master's, and Ph.D. students, as well as academics, researchers, and banking professionals. 
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650 0 |a Bank management. 
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