Managing Money Transfer, or Paying Less on Paying Out Available to Purchase

It is argued that auditors should have a clear view of the opportunities that exist for automated transfer, and of the controls against fraud and error that are built in. The role of BACS, the UK banks′ automated clearing service, is compared with some of the other computerised operations in UK banking. Types of settlements management auditors should be advising their clients to make via the BACS service are also described.