Bank Audit - 11. page

Investments  Generally, this is looked after by Treasury Department, hence, such types of transactions do not appear in Branch Books.  However, confirm that no Investments are appearing in […]

Advances (a) Credit Appraisal In your opinion, has the branch generally complied with the procedures/ instructions of the Controlling Authorities of the bank regarding loan applications, preparation of proposals for […]

Other Assets (a) Stationery and Stamps (i) Does the system of the Bank ensure adequate internal control over issue and custody of stationery comprising security items (Term Deposit Receipts, Drafts, […]

Inter Office Transactions : Inter-office transactions mostly take place at branches. The balances can be debit balance or credit balances in Balance Sheet of the branches. Branches have number of […]

Audit Approach Bad housekeeping provides ample scope for frauds. Inter branch account has been very sensitive area and can prove to be problematic or prone to errors and frauds. The […]

Long Form Audit Report in Case of Bank Branches In the case of branches, the auditors have to answer a detailed questionnaire formulated by the RBI. Such a report is […]

Long Form Audit Report of Bank Branches : The clauses in the LFAR questionnaire to be dealt with by the branch auditors are discussed in the following paragraphs. The key […]

Balances with Reserve Bank of India, State Bank of India and Other Banks (a) Were balance confirmation certificates obtained in respect of outstanding balances as at the year-end and whether […]

Responsibility of the Statutory Central Auditor It is necessary for the auditor to take into consideration the accounting standards relevant for the purpose of CFS. They are AS 21: Consolidated […]

Audit of CFS Audit of CFS needs to be planned properly with regards to following aspects: 1. Accounting policies of Bank and its various components. It is very much probable […]