Application financial-control audit
We treat the fraud-monitoring application as a financial system. Walkthroughs, samples, and reconciliations test whether case values, recoveries, write-offs, holds, and fees can be relied upon by finance, internal audit, and examiners in Malaysia.
Fraud-monitoring applications keep more than investigator notes. They store amounts that should become recoveries, write-offs, customer refunds, frozen-fund releases, vendor charges, and sometimes provisions. When those amounts never reach the general ledger — or reach it twice — the institution’s financial statements and its crime-operations story diverge.
This engagement is a financial-control audit of that application, not a software review and not a statutory audit of the entity. We map the financial events the application is allowed to create, identify the books and bank accounts those events should hit, and test a sample through to evidence.
Fieldwork is usually split between your Kuala Lumpur operations floor (or a regional hub) and a secure data room. We ask for application extracts, case files, GL dumps, and a small set of bank statements covering the period under review. Interviews stay short and tied to a walkthrough script so investigators are not pulled off live cases for long.
The file you receive is built for reuse: a scoping memo, flow narratives, sample sheets, exception grading, and a management letter that finance can take to the audit committee without translation. If you later face a Bank Negara Malaysia inspection or an external-audit PBC list, the same workpapers can be re-cut rather than rebuilt.
What the letter includes
- Scoping memo and application inventory
- Walkthrough of alert, case, recovery, and posting flows
- Sample testing of financial events against source evidence
- Exception log and management letter
- Closing meeting with finance and financial-crime operations