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State bank of Pakistan. State bank of Pakistan divide in two parts in 02_jan_2002. I. II.

State bank of Pakistan (head office) SBP banking services corporation (bank)

State bank of Pakistan Sbp is central bank of Pakistan which is established for perform banking activities on behalf of government. There were many sub branches of state bank of Pakistan in different cities but after division of state bank all branches become field offices of state bank as Pakistan banking services corporation (bank). SBP BSC (BANK) Sbp bsc are 16 branches in all provinces. It has seprate management and head of sbp bsc is managing director and head of sbp is governer. Audit of SBP BSC (BANK) Two types of audit conduct in sbp bsc (bank).

Internal audit Internal audit is conduct through state bank own management. Bank has established seprate department of internal audit. This department develop controls and monitoring process. Audit teams control all the operational and financial matters through imu. Imu is monitoring unit of internal audit department. Internal audit compliance all the irregularaties through internal monitoring unit. Audit teams conduct audit annually and periodically. Vision To provide management and audit committees for internal audit and controls. Types of internal control I. Accounting control II. Administrative control Steps of internal audit . Planning > field work> report. I. External audit

External audit is conduct by both government and bank authorities. Government conduct external audit through public accounts committee and bank conduct external audit through charted accountants. Types of internal audit. a) Pre audit Pre audit is conduct by internal monitoring unit in state bank of Pakistan banking services corporations. Imu roles as liaison between different departments and internal audit department. Imu check all the operations before it proved. Imu purpose to rectify the errors in each operational activities in accounts department and administrative department. Payment and receipts of government and commercial banks also verified by internal monitoring unit.imu reports to chief managers. Imu is responsible of correctness of daily routine operational activities. Imu check authority of command of approval any financial activity in field office. b) Post audit Post audit is conduct by audit teams of audit committee. Board of directors are include in audit teams. Audit teams conduct post audit to rectify the errors of internal monitoring unit in field office of state bank of Pakistan banking services corporation. These audit team make an report which is consist of all the irregularaties appear in operational activities. These audit teams comes annually in sbp bsc (bank). c) Hub audit Hub consist of professional bankers for periodically audit of sbp banking services corporation. Hub check all the controls related with financial and operational activities. Joint director is chair person of hub.