Evaluating a bank's system of internal controls is a fundamental step in the OCC's supervision process. This booklet contains a compilation of OCC Internal Control Questionnaires (ICQs) and verification procedures from the Comptroller's Handbook for National Bank Examiners and booklets of the Comptroller's Handbook that were published prior to January 2001. Booklets that were published after that time contain ICQs and verification procedures, either separately identified or incorporated into the examination procedures.

Evaluating a bank's system of internal controls is a fundamental step in the OCC's supervision process. This booklet contains a compilation of OCC Internal Control Questionnaires (ICQs) and verification procedures from the Comptroller's Handbook for National Bank Examiners and booklets of the Comptroller's Handbook that were published prior to January 2001. Booklets that were published after that time contain ICQs and verification procedures, either separately identified or incorporated into the examination procedures.

Effective internal controls are the foundation of safe and sound banking. A properly designed and consistently enforced system of operational and financial internal control helps a bank's board of directors and management safeguard the bank's resources, produce reliable financial reports, and comply with laws and regulations. Effective internal control also reduces the possibility of significant errors and irregularities and assists in their timely detection when they do occur.

The first edition of The Internal Auditing Handbook received wide acclaim from readers and became established as one of the definitive publications on internal auditing. The second edition was released soon after to reflect the rapid progress of the internal audit profession. There have been a number of significant changes in the practice of internal auditing since publication of the second edition and this revised third edition reflects those changes. The third edition of The Internal Auditing Handbook retains all the detailed material that formed the basis of the second edition and has been updated to reflect the Institute of Internal Auditor’s (IIA) International Standards for the Professional Practice of Internal Auditing. Each chapter has a section on new developments to reflect changes that have occurred over the last few years. The key role of auditors in reviewing corporate governance and risk management is discussed in conjunction with the elevation of the status of the chief audit executive and heightened expectations from boards and audit committees. Another new feature is a series of multi-choice questions that have been developed and included at the end of each chapter. This edition of The Internal Auditing Handbook will prove to be an indispensable reference for both new and experienced auditors, as well as business managers, members of audit committees, control and compliance teams, and all those who may have an interest in promoting corporate governance.