Generate an Excel/PDF workbook for corporate treasury internal audit: bank mandates, cash forecast, borrowings, interest, covenants, investments, BG/LC, forex exposure, payments, BRS and access controls.
| Area | Risk | Control | Test | Evidence | Cadence |
|---|---|---|---|---|---|
| Policy delegation SoD | Treasury transactions are executed without approved policy, authority limits or segregation. | Board-approved treasury policy, delegation matrix, instrument whitelist and exception reporting. | Review policy currency, map limits to transactions, inspect exceptions and check dealing/recording/settlement segregation. | Treasury policy, delegation matrix, minutes, exception log and user role matrix. | Quarterly / Change event |
| Bank accounts mandates | Bank accounts, signatories, portals or payment limits remain active without approval. | Bank account approval, mandate review, bank portal access review and dormant account monitoring. | Confirm bank list, match signatories to approvals, review leavers/portal users and inspect dormant accounts. | Bank confirmations, account master, board resolutions, mandate letters, portal user list and leaver report. | Monthly / Quarterly |
| Cash forecast liquidity | Cash shortages, idle balances or funding decisions are missed due to weak forecasts. | Rolling cash forecast, variance review, liquidity dashboard and funding escalation. | Compare forecast to actual cash movement, review assumptions, check shortfall escalations and inspect surplus approvals. | Cash forecast, bank balances, AP/AR ageing, variance file, funding note and treasury MIS. | Weekly / Monthly |
| Borrowings limits drawdowns | Loans, working-capital lines, overdrafts or intercompany borrowings are unauthorised or outside terms. | Sanction-letter register, drawdown approval, limit monitoring and charge/security register tie-out. | Agree borrowing register to confirmations, trace drawdowns, check utilisation against terms and review charge records. | Borrowing register, sanction letters, confirmations, drawdown notices, bank statements, charge register and covenant tracker. | Monthly |
| Interest fees covenants | Interest, bank charges or covenants are misstated, missed or reported late. | Interest recomputation, bank charge review, covenant calendar and lender reporting sign-off. | Recompute interest/fees, agree charges to sanction terms, test covenant ratios and review breach waivers. | Interest workings, bank advices, sanction terms, covenant working, lender submissions and waiver letters. | Monthly / Quarter close |
| Investments deposits | Surplus funds are invested outside policy, without approval, valuation or custody evidence. | Investment policy, deal approval, custody confirmation and valuation/income review. | Trace investments to policy/approval, agree holdings, review valuation/income and check maturity controls. | Investment register, approval note, FD/deposit receipts, demat/custody statement, valuation working and income support. | Monthly / Quarterly |
| BG LC commitments | BGs, LCs or comfort letters are issued, renewed, expired or invoked without exposure tracking. | BG/LC register, issuance approval, expiry monitoring and margin/collateral review. | Agree register to bank confirmation, sample approvals, review expired/open items and check commission/margin accounting. | BG/LC register, confirmations, application forms, approvals, margin records, commission advices and expiry tracker. | Monthly |
| Forex exposure hedging | Foreign-currency exposure, forwards/options or import/export items are not identified, valued or documented. | Exposure register, hedge approval, MTM review and FEMA/RBI compliance checklist. | Tie exposure register to documents, review hedge approvals, inspect MTM/revaluation entries and check AD bank documentation. | Exposure register, contracts, confirmations, MTM statement, import/export documents, ECB/TC files and AD bank correspondence. | Monthly / Close |
| Payments transfers BRS | Fund transfers, high-value payments or bank reconciliations are unauthorised, duplicated or stale. | Maker-checker payment release, transfer approval, BRS and stale item review. | Trace transfers to approval, review high-value/round-sum payments, age unreconciled items and check duplicate references. | Payment run, bank statements, UTRs, transfer notes, BRS, stale item tracker and approval trail. | Weekly / Monthly |
| Treasury access logs | Users can create counterparties, edit bank details, execute deals, approve settlements or override limits without review. | Role-based access, SoD review, audit-log monitoring and leaver access review. | Review treasury/bank portal users, test changes, inspect overrides and check leaver/shared-user access. | Treasury system users, bank portal users, role matrix, audit logs, override reports, leaver list and access review. | Monthly / Quarterly |
Use this with the treasury internal audit checklist, the control repository and the monitoring rules repository.
Treasury internal audit is strongest when bank authority, liquidity, borrowing, investment, forex, payment and access evidence are tested together. The workbook connects treasury policy, bank mandates, cash forecast, borrowings, covenants, investments, commitments, forex exposure, payments and treasury-system access.
The Excel export gives auditors separate sheets for engagement scope, RCM rows, bank mandates, borrowings/covenants, investments/BG/LC, forex/hedging, payments/BRS, access/SoD and monitoring exceptions.
A CA firm is reviewing corporate treasury controls for a company with multiple bank accounts, working-capital limits, deposits, bank guarantees and foreign-currency purchases.
