What You Will Learn
1. Why Audit the Treasury Function

2. The Treasury Environment
- introduction to the investment process
- understanding the short-term market
- reviewing the major securities in the capital markets

3. The Cash Management Function
- reasons to hold cash in the portfolio
- best practices for “economizing” cash
- internal controls in the cash management process
- best practices in cash management

4. The Funding Process
- different funding alternatives
- audit concerns in issuing debt

5. The Derivative Environment: An Introduction
- the importance of auditing derivatives
- what’s going wrong?
- derivative debacles of the past
- hedging vs. speculation
- key controls

6. Auditing the Treasury Infrastructure
- the roles of the back office
- back office systems and controls
- understanding the pitfalls of investment reporting
- the roles of the front office
- discussing the portfolio management process
- front office red flags
- the roles of the middle office and compliance

7. The Asset and Liability Management Function
- significance of the asset and liability function
- audit objectives in reviewing the ALM function
- reviewing best practices in the ALM process.

8. Summary
- key controls and red flags
- getting started