Bank Audit - 9. page

Sanctioning/Disbursement In respect of sanctioning / disbursement of advances, the auditor is expected to comment on –  Delegation of powers / authority at various levels; adherence to authorised limits; […]

Documentation The auditor is expected to comment on the following aspects of documentation in respect of advances:  System of ensuring that documents are executed as per the terms of […]

Review/ Monitoring/ Supervision In respect of review, monitoring and supervision of advances, the auditor is required to comment on the following aspects:  Periodic balance confirmation / acknowledgement of debts. […]

Recovery Policy in Respect of Bad/Doubtful Debts/ NPAs The auditor is expected to report on the following aspects of the recovery period:  Existence of a recovery policy; regular updation […]

LFAR (For Large/ Irregular/ Critical Advance Accounts) (To be obtained from the branch Management by the Branch Auditors of branches dealing in large advances/ asset recovery branches) 1. Name of […]

Long Form Audit Report in Case of Banks The statutory auditors should address their LFAR to the Chairman of the bank concerned and also a copy thereof should be forwarded […]

Credit Policy In respect of loan policy, the auditor is expected to give his observations on –  Existence of Loan Policy – specifying the prudential exposure norms, industry-wise exposures, […]

Credit Appraisal : In respect of credit appraisal, the auditor is expected to give his observations on –  Existence of a well-laid system of appraisal of loans / credit […]

Questionnaire Applicable to Specialised Branches   For Branches dealing in Foreign Exchange Transactions It should be noted that certain branches do not deal in foreign exchange transactions but foreign currency […]

For branches dealing in Clearing House Operations, normally referred to as Service Branches 1. Does the branch have a system of periodic review of the outstanding entries in clearing adjustments […]