Evaluation of the Effectiveness of the Internal Control of the Electronic Checks Clearing System (ACH) An Exploratory Study in Rafidain and Al-Rasheed Banks.

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Evaluation of the Effectiveness of the Internal Control of the Electronic Checks Clearing System (ACH) An Exploratory Study in Rafidain and Al-Rasheed Banks.

Mithaq Hadi Hashem and Khawla Hussein Hamdan

Federal Financial Supervision Bureau  Higher Institute of Accounting and Financial Studies, Baghdad

Abstract

The use of electronic systems in the banking sector and in particular the Automated Clearing House System (ACH) in the electronic funds transfer operations, which include high-value financial transfers between the participating banks in this system, requires the fulfillment of all the decisions of the Basel Committee to manage the risks of electronic banking as well as on the implementation of all the requirements contained in the COBIT framework in light of the information technology environment to ensure proper and safe application in the process of financial transfers that take place through the clearing system of the electronic instruments (ACH) The search is over a set of conclusions, most notably: This system does not provide an integrated and comprehensive electronic processing of all the functions required by a clearing operation of corresponding operations of incoming and outgoing cheques. According to the conclusions, the research has formulated a set of recommendations.

DOI:10.52113/6/2018-8-4/138-151

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