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Presented by:

Muhammad Sarwar Shah

MBA (B & F)

Sukkur Institute of Business Administration

Internal Monitoring Unit(IMU)

safeguard Against Various Risks

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Topics to be covered

Introduction

Common objective

Key work areas Main duties and Responsibilities

Decision Making Authority

Safeguard Against Risks

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Introduction

The Internal Audit Units (IAUs) operative at the BSC offices up

to 2008-09

IAU went wrong due to overlapping of work with Internal

Monitoring Unit (IMU)

IAU restructure into Karachi and Lahore Hubs

IMU working as an independent Unit at all field offices of SBP

after restructuring of IAU

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Common objective

Internal Monitoring Unit exit meant for monitoring all

operational transactions and payment cases of the Office and

that office work is in accordance with prescribed manuals,

instructions, circulars issued from time to time and to provide

guidelines and recommendations where required

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Key work areas of IMU

To check attendance and punctuality of staff of the bank

To insure that all transactions, cases and related documents

emanating from all Units/Departments are pre-audited

Monitor and check all expenditures of the office as per expenditure

regulations 1993, SBPBSC (Bank) and prescribed rules.

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Main duties and responsibilities of IMU

To arrange periodical checking of Security Badges and

uniform/liveries of all eligible staff

To ensure that all bills are sanctioned by authorized persons with

in prescribed limit To ensure that the expenditure in any head is within budgetary

allocation

To check preparation of proper salaries of the staff and that

necessary changes viz. To ensure compliance of irregularities pointed out by Annual

Inspection Team (offices) and provided feedback to

Perform any other assignment being assigned time to time by the

superiors

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Decision Making Authority of IMU

Decision with Consultation : Conduct surprise checks of Note

Verification Unit and attendance of Cash Staff in the morning in

consultation with superiors.

Decision without Consultation : Depute Officials for surprise

checks of uniform of Liveries Staff/Security Badges/Attendance of

entire Staff of Office/ Movement Registers/Cash Counters andExamination Hall ofTreasury (Cash) Division/Prize Bonds

Counters e.t.c

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IMU is a safe guard against the Risks

Financial Risks

Reputational Risks

Transaction Failure Risks

Fraud Risks

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Thanks