[read complete report - pdf]

Audit Objective

Determine whether District officials ensured online banking transactions were appropriate and secure.

Key Findings

• Officials adequately segregated the duties of employees responsible for online banking transactions and adequately established security procedures over online banking. All online payments and transfers totaling $72 million during our audit period were appropriate.
• The online banking policy does not clearly indicate how online transfers will be authorized and processed.
• None of the employees involved in online banking received Internet security awareness training.

Key Recommendations

• Update the online banking policy to clearly describe the procedures for authorizing and processing transactions.
• Ensure that employees involved in online banking receive Internet security awareness training.

District officials agreed with our recommendations and indicated they plan to initiate corrective action.