internal monitoring unit
TRANSCRIPT
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Presented by:
Muhammad Sarwar Shah
MBA (B & F)
Sukkur Institute of Business Administration
Internal Monitoring Unit(IMU)
safeguard Against Various Risks
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Topics to be covered
Introduction
Common objective
Key work areas Main duties and Responsibilities
Decision Making Authority
Safeguard Against Risks
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Introduction
The Internal Audit Units (IAUs) operative at the BSC offices up
to 2008-09
IAU went wrong due to overlapping of work with Internal
Monitoring Unit (IMU)
IAU restructure into Karachi and Lahore Hubs
IMU working as an independent Unit at all field offices of SBP
after restructuring of IAU
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Common objective
Internal Monitoring Unit exit meant for monitoring all
operational transactions and payment cases of the Office and
that office work is in accordance with prescribed manuals,
instructions, circulars issued from time to time and to provide
guidelines and recommendations where required
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Key work areas of IMU
To check attendance and punctuality of staff of the bank
To insure that all transactions, cases and related documents
emanating from all Units/Departments are pre-audited
Monitor and check all expenditures of the office as per expenditure
regulations 1993, SBPBSC (Bank) and prescribed rules.
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Main duties and responsibilities of IMU
To arrange periodical checking of Security Badges and
uniform/liveries of all eligible staff
To ensure that all bills are sanctioned by authorized persons with
in prescribed limit To ensure that the expenditure in any head is within budgetary
allocation
To check preparation of proper salaries of the staff and that
necessary changes viz. To ensure compliance of irregularities pointed out by Annual
Inspection Team (offices) and provided feedback to
Perform any other assignment being assigned time to time by the
superiors
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Decision Making Authority of IMU
Decision with Consultation : Conduct surprise checks of Note
Verification Unit and attendance of Cash Staff in the morning in
consultation with superiors.
Decision without Consultation : Depute Officials for surprise
checks of uniform of Liveries Staff/Security Badges/Attendance of
entire Staff of Office/ Movement Registers/Cash Counters andExamination Hall ofTreasury (Cash) Division/Prize Bonds
Counters e.t.c
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IMU is a safe guard against the Risks
Financial Risks
Reputational Risks
Transaction Failure Risks
Fraud Risks
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Thanks