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Ever audited a bank? How has Sarbanes-Oxley impacted banks?

Has anyone here ever audited a bank? I am interviewing with a firm that mostly deals with community banks, so if anyone has ever performed or worked on an audit of a bank, it would be very helpful if they can remininsce about such an engagement.

Aside from that, how has Sarbanes-Oxley impacted banks? This firm has some clients who must answer to the PCAOB.

I was talking with some people at a meeting of Managment Accountants, and it seems some banks have yet to think beyond bait money for their security, so one hopes that Sarbanes-Oxley forces a reassessment.

Reply to
Enda
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the accounting system for community banks can be similar to larger banks because the back office systems and computers are often outsourced. The real differences are in the loan area where an auditor needs experience/expertise to analyze the quality of the loans. Understanding the accounts and general ledger of a financial institution can be a challenge but there are books and prior workpapers. In many instances the internal audit dept. will help prepare confirmations, reports, etc.

Reply to
John

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