Home > Corporate > Finance and Informatics > Chapter 9 - Consolidated Banking System (Revised 23 Jan. 04)
ANNEX D, CHAPTER 9
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ANNEX A |
| ANNEX B |
| ANNEX B, APPENDIX 1 |
| ANNEX B, APPENDIX 2 |
| ANNEX C |
| ANNEX D |
| ANNEX D, APPENDIX 1 |
| ANNEX D, APPENDIX 2 |
| ANNEX E |
| ANNEX F |
| ANNEX G |
| ANNEX H |
ANNEX D, CHAPTER 9
CONTROLS - FACSIMILE SIGNATURE MACHINES
Security procedures surrounding the use of cheque signing machines are of paramount importance. Controls which are essential to any operation, and which should be verified by CFPSA/IA&R audit teams, are as follows:
Central Office is the approving authority for the use of facsimile signature machines and shall designate the custodians of cheques, keys and machine in accordance with the principles outlined below;
the use of a pseudonym in lieu of the authorized signing officer's signature is permitted; however, both the use of the pseudonym and the pseudonym itself are subject to the approval CFO&VPI/DAPS;
the RAM shall maintain a file containing Signature Plate Acknowledgement forms (see Appendix 1), for each plate in the Region; indicating the date, name and signature of the officer to whom the signature plate has been issued;
when an authorized signing officer relinquishes his/her duties, the plate, if it bears a pseudonym, shall be returned to the RAM for reissue or, if no longer required, for mutilation. The applicable acknowledgements are to be completed using Appendix 1;
the RAM shall provide Central Office with a copy of Appendix 1 when changes to the status of signers and signature plates occur;
when not in use the signature plate and machine shall be stored separately, the plate and the key to install the plate being held only by the authorized signing officer or someone authorized in writing by the signor;
the signature plate should be afforded the same security as cash;
the signature plate should never be left in the machine, and if for some reason this does become necessary, the authorized signing officer must lock the plate and retain the key to prevent unauthorized use;
keys covering the operation of the machine and the installation of the signature plate shall be retained by different people, and must be safeguarded separately;
a register (see Appendix 2) must be maintained in which cheque numbers and closing counter readings are to be recorded. This register should reflect the initials of both the individual who prepared the cheques as well as the signing officer. A daily reconciliation of the cheque register with the signing machine counter must also be done by the signing officer or a delegated person other than the clerk involved in the cheque preparation; and
blank cheques shall be in the custody of a person other than one who holds a control key for the machine.
The use of a cheque signing machine does not relieve the signing officer from the responsibility of verifying that the cheques presented for signature are valid and represent legitimate payment demands. As is presently the case, this verification procedure should take the form of scrutinizing all invoices, cheque requisitions, etc, prior to cheque issue or as is sometimes the case with accounts payable, spot check verification using random sampling techniques.
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ANNEX A |
| ANNEX B |
| ANNEX B, APPENDIX 1 |
| ANNEX B, APPENDIX 2 |
| ANNEX C |
| ANNEX D |
| ANNEX D, APPENDIX 1 |
| ANNEX D, APPENDIX 2 |
| ANNEX E |
| ANNEX F |
| ANNEX G |
| ANNEX H |