RSM323H1 Lecture Notes - Lecture 7: Bank Statement, Internal Control, Audit Evidence
Document Summary
Banking has firmly embraced the internet as a platform for the delivery of products and services to clients of the bank as well as prospective clients. Individuals apply for new bank accounts, credit cards, residential mortgages and personal loans through applications that are available on their websites. The use of the internet has a twofold objective; to reduce costs and to increase client satisfaction. John jones was looking to open a new personal chequing account. He accessed a number of bank websites including the bank of ontario. After making comparisons of each bank"s service charges and the services attached to the account offering he decided to open a bank account with the bank of ontario (boo). The boo has an on-line account application that john accessed. After a brief review, he was comfortable that his personal information would be secure so he proceeded to complete the application.
