Trust Examiner School eBook

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21. A list of account assets on the accounting records that are not in your possession and assets that are in your possession but not entered on individual account records. Include off-balance sheet assets and items held for clients as a courtesy. Exclude normal deliveries and exchanges.

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22. A reconcilement of total assets held (stocks, bonds, cash, etc.) to total account balances (personal trust, estates, employee benefit accounts, etc.) using the examination “as of” date.

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23. Month-end reconcilement of your own demand and time deposit accounts for the three months preceding the examination date.

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24. Monthly overdraft reports for three months preceding the examination date, indicating the accounts concerned, and the dates of overdraft inception and resolution. Explain overdrafts over 10 days that are greater than $1,000.

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25. A copy of your disaster recovery/business continuity plan (e.g. temporary location, employee contact list, supplies, and telephone lines). Include the results of the most recent test of the plan.

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26. Describe your web site (e.g. transactional or non-transactional, products and services offered, services offered directly or indirectly). If transactional, provide the most recent risk assessment or audit that was completed.

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27. A list of accounts closed since the last examination. Include reason for closing if other than final distribution, grantor or beneficiary relocation, or other “normal” account termination.

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28. A list of every account that has an executed agreement but is not reflected on your trust accounting system and provide an explanation as to why it is not entered on the system.

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