Automated Compliance Current-state process depiction Planning Assessment Follow-up Reporting 1 Risk assessment Bank 5 Auditor Bank Material 3 Identified errors 7 Audit scope information Accounts Accounts 4 payable receivable Independent 8 Auditor Objectives Bank Auditor Supporting Bank audit report documentation 2 Auditor 6 10K/10Q Current-state process description 1 Annually, auditorscoordinate 3 The bank provides the audit 5 Throughout the process, 7 At the conclusion of the with the bank to perform the team with copies of financially auditors work directly with the evaluation, the audit team required audit of financial material data and access to the leadership and representatives releases an opinion of the statements systems that enable analyses to from the bank to address overall financial health of the 2 Members of the audit team be conducted identified errors within the data bank in the form of an work directly with the bank to 4 Auditorsevaluate the and testing exceptions independent audit report perform an initial risk information provided for 6 Asexceptions are identified, the 8 The bank uses the results of the assessment and align on the completeness and conduct tests audit team requests additional report to populate its quarterly scope, objectives, timing and for accuracy in parallel to information to determine the and annual filings resources required performing the evaluation depth of the concern (10K/10Q) WORLD ECONOMIC FORUM | 2016 95