In recent years, financial institutions have experienced frequent system failures, significantly impacting user convenience. The Financial Services Agency (FSA) attributes these failures to a few recurring causes. Internal audit departments often lack the ability to oversee these countermeasures, relying on system audit results from external auditors or self-reports from audited departments. However, system audits require advanced technical knowledge, and internal audit departments may not have personnel with the necessary expertise.

To address these challenges, we analyze past system failures to identify key causes and organize the requirements for effective system audits in internal audit departments. We provide comprehensive checklists covering critical verification points in system development and operational processes. This support enables internal auditors, even those without extensive technical knowledge, to meet regulatory requirements.

The FSA is focused on enhancing the internal audit functions of financial institutions, with detailed requirements in its supervisory guidelines. We organize these requirements based on regulatory documents and create detailed plans for system audits in internal audit departments. These plans cover each process, from selecting external auditors to system development and operation.

To empower internal auditors who may not have extensive IT knowledge, we provide comprehensive checklists that outline necessary verification tasks. This ensures effective monitoring of audited departments and compliance with regulatory requirements.

• Enables effective system audits by internal auditors without extensive system knowledge
• Provides audit programs that align with the FSA's inspection criteria
• Comprehensive checklists ensure all necessary requirements are systematically captured

• Fintech Journal