How would you audit a bank's credit card department that has not reported any revenue leakage? How would you test the controls?

Question

Accepted Answer

I would conduct a thorough review of the credit card department's processes, controls, and documentation to identify any potential revenue leakage.

Review the credit card department's policies and procedures to understand how revenue is recorded and reported
Analyze transaction data to identify any anomalies or discrepancies that could indicate revenue leakage
Conduct interviews with staff members to gain insights into their roles and responsibilities in revenue reporting
Perform a reconciliation of revenue reported by the credit card department with actual revenue generated
Test the effectiveness of controls in place to prevent revenue leakage, such as segregation of duties and authorization processes

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