Auditing Call Reports – Best Practices for Documentation and Review 2023

With regulatory agencies increasingly relying on the Call Report as an effective way to monitor and remotely supervise banks, there is greater emphasis on Call Report accuracy. In addition, regulators are more frequently including a Call Report review during on-site examinations. It is imperative that Call Report preparers, reviewers, and auditors understand regulators’ expectations regarding Call Report accuracy, as well as the bank’s procedures for preparation and review. 

One key control in mitigating this risk is ensuring that you have adequate documentation in place each quarter so that the next person can pick up the pieces. Maintaining documentation that is well prepared and organized can not only help mitigate risk but also improve your preparation efficiency.

This session will highlight key audit areas, common errors, and best practices for performing and documenting the review of quarterly Call Reports.

National Banks, State Member Banks, and Insured Non-Member Banks are all responsible to submit audit call reports on a quarterly basis. Highly important that audit call reports are prepared accurately and consistent with other financial information reporting. 

Do your Call Reports include the information that auditors and examiners are looking for?

If your preparer were to leave unexpectedly tomorrow, could someone else at the bank locate the prior quarter's call report documentation, figure out where the source information came from, and work their way through the next quarter's call report? Many banks, large and small, face this challenge, but the better your documentation, the less painful the recovery when the unexpected occurs.

Join this webinar to get expert advice, tips, and best practices to improve your Call Report process.

After this webinar You’ll be able to - 

• Understand how examiners and auditors use Call Reports
• Implement effective Call Report internal controls
• Maintain supporting documentation to assist outside parties
• Coordinate and facilitate examination and audit requests
• Focus on critical areas for completeness and precision

• Call Report Objectives
• Regulators use Call Report information
• Regulators expectations for internal review processes
• Key Call Reporting areas and steps for auditing/reviewing those areas
• Internal controls for review and audit
• Best practices for documenting Call Report preparation and review
• Avoiding inaccuracies and inconsistencies
• Commonly misreported items
• Audit call report preparation and review responsibilities

This webinar will provide valuable insights to - 

• Executive and Senior Management
• CFOs
• Call Report preparers
• Call Report reviewers
• Controllers
• Internal auditors and audit liaisons
• Compliance officers