Directors’ Fees, Allowances and Expenses This item includes sitting fees and all other items of expenditure incurred in relation to directors. The daily allowance, hotel charges, conveyance charges, etc., though […]
Bank Audit - 4. page
Insurance
Insurance This item includes insurance charges on bank’s property. It also includes insurance premium paid to DICGC, etc., to the extent they are not recovered from the parties concerned. Banks […]
Head Office
Head Office Apart from examination of consolidation of branch returns, verification of capital and reserves, and verification of investments and provisioning in respect thereof, the central auditors also usually deal […]
Provisioning for Non-performing Assets
Provisioning for Non-performing Assets The prudential norms issued by the RBI prescribe the percentage of provision to be made in respect of advances classified under different categories, viz., standard, sub-standard, […]
Recognition of Certain Expenses
Recognition of Certain Expenses Certain expenses, such as the following, are usually recognised at thehead office level (or at zonal or regional level): (a) Directors’ fees, allowances and expenses; (b) […]
Certificate of the Statutory Auditor on the Status of Compliance
Certificate of the Statutory Auditor on the Status of Compliance Based on the work done, the auditor should assess whether any information obtained during the verification indicates that any of […]
Illustrative Format of Certificate w.r.t. Compliance/ Implementation Status of the Recommendations of the Ghosh and Jilani Committees
Illustrative Format of Certificate w.r.t. Compliance/ Implementation Status of the Recommendations of the Ghosh and Jilani Committees ; We have examined the attached Format of compliance/ implementation by […]
Audit Procedures
Audit Procedures The RBI has prescribed separate formats to be filled in by the banks for reporting on compliance with/ implementation of the recommendations of the Ghosh and Jilani Committees. […]
Implementation of Jilani Committee Recommendations
Implementation of Jilani Committee Recommendations The RBI had set up a “Working Group to Review the Internal Control and Inspection and Audit System in Banks” under the Chairmanship of Mr. […]
Responsibility of the Management
Responsibility of the Management The RBI, vide its subsequent Circular dated June 28, 2002, issued to the banks has required the concurrent auditors and inspectors of the bank branches/controlling offices […]