Village of Mayville – Online Banking (2020M-150)

Issued Date
March 05, 2021

[read complete report - pdf]

Audit Objective

Determine whether the Village of Mayville (Village) Board of Trustees (Board) ensured online banking transactions were appropriate and secure.

Key Findings

Online banking transactions we reviewed were appropriate, properly supported and authorized, however the Board needs to ensure transactions are secure.

  • The Board did not adopt a written online banking policy or implement adequate procedures to monitor and control online banking transactions.
  • A dedicated computer was used for online banking but authorized users were not provided with security awareness training.

Key Recommendations

  • Adopt a written online banking policy and develop employee specific procedures.
  • Ensure employees and officials receive adequate security awareness training.

Village officials generally agreed with our recommendations and indicated they planned to initiate correction action.