Overview

In the wake of numerous global banking scandals and regulatory failures, governments and banking regulators around the world have introduced stringent internal control laws within their financial institutions to safeguard against fraud, financial misreporting, and systemic failures. Effective Internal Control Practices in Banks: A Practitioner's Aid offers a comprehensive exploration of best practices in designing and implementing robust internal control environments in banks and public companies. Author Sophia Beckett Velez delves into the essential components of internal controls—control environment, risk assessment, control activities, information and communication, and monitoring—offering strategies to mitigate risks and prevent breaches. This valuable work offers an original contribution to the study of internal controls in banking, providing useful insights for undergraduates, master’s, and Ph.D. students, as well as academics, researchers, and banking professionals.

Full Product Details

Author:   Sophia Beckett Velez (International Leadership Association (ILA), USA)
Publisher:   Emerald Publishing Limited
Imprint:   Emerald Publishing Limited
Dimensions:   Width: 15.20cm , Height: 1.50cm , Length: 22.90cm
Weight:   0.361kg
ISBN:  

9781836629733

ISBN 10:   1836629737
Pages:   194
Publication Date:   15 July 2025
Audience:   Professional and scholarly ,  College/higher education ,  Professional & Vocational ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

Table of Contents

Part 1. Lack of Effective Internal Controls in Banks and Significant Financial Institutions (SIFIs) Chapter 1. Banks and SIFIs failure to implement Effective Internal Controls Chapter 2. Significant Losses Incurred by Large Banks and SIFIs due to Internal Control Weaknesses Chapter 3. Global Economic Impact due to Weak Controls in Banking and Financial Services Chapter 4. Sarbanes Oxley 2002 (SOX) and Control Environment Part 2. Government SOX Regulations of Banks and SIFIs Control Environment Chapter 5. Importance of Effective Internal Control to Company's Control Environment Chapter 6. Challenges to the Effective Implementation of SOX Requirements Chapter 7. Regulators, Auditors, and Process Owners Failures in SOX Certification Process Chapter 8. Internal Control Framework (Preventive, Detective, Monitoring, Automated) Design Part 3. Bank Leadership Consensus on Designing Effective Control Environment Chapter 9. Systems and the Automated Control Environment Chapter 10. Risk Identification and Communication Chapter 11. Timely Reporting and Escalation Chapter 12. Internal Control Effective Practices

Reviews

Author Information

Sophia Beckett Velez, PhD, is a researcher, author, and founder of Idiosyncratic Viral Loss Theory. She holds a Ph.D. in Management from Walden University and an MBA in Finance from Fordham University USA and was a Fulbright Scholar 2019-2020. She worked for over 16 years as a Certified Public Accountant (CPA), and has worked with large banks providing consulting services to address regulatory compliance problems, magnified subsequent to the 2008 recession. Sophia is the author of three previous books: Compliance and Financial Crime Risk in Banks: A Practitioners Guide (2024), Operational Risk Management in Banks and Idiosyncratic Loss Theory: A Leadership Perspective (2022), and Banking and Effective Capital Regulation in Practice: A Leadership Perspective (2020).

Tab Content 6

Author Website:  

Countries Available

All regions