Certified Bank Auditor (CBA)

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When testing the effectiveness of a bank's internal control over the wire transfer approval process, which of the following audit procedures generally provides the most persuasive evidence?

Inquiring with the wire room supervisor about the approval process. Observing the wire transfer clerk perform their duties for one hour. Inspecting documented evidence of supervisory approval for a sample of transfers. Reperforming the approval control for a selected sample of wire transfers.

Correct Answer:

Reperforming the approval control for a selected sample of wire transfers.

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