SCF should conduct a walkthrough test of real-life deals to gauge the reliability of internal procedures, manuals and policies in relation to day-to-day activities of the IFI.
b.
The walkthrough should be accompanied by an assessment of the controls, their adequacy and effectiveness in real-life deals. Preparation for the walkthrough should include interviewing the relevant staff regarding the applicable processes and procedures, and questions or queries that would need to be asked during the walkthrough. The questions should cover exceptional and unusual situations that occur in day-to-day work.