Audit - 9. page

Inter-branch Reconciliation These are:  Comments on the system/ procedure and records maintained.  Test check for any unusual entries put through inter-branch/ head office accounts.  Position of outstanding […]

Branch Inspections These are:  System of branch inspections: frequency; scope/ coverage of inspection/ internal audit, concurrent audit or revenue audit; reporting.  System of follow-up of these reports; position […]

Dealing Room Operations The auditor should obtain and comment on the observations forming part of the System Audit Report of Dealing Room required to be conducted in terms of RBI […]

RBI Inspection The auditor should obtain and comment on the observations forming part of Annual Financial Inspection u/s 35 of the Banking Regulation Act, 1949 conducted by RBI.

Written Guidelines/Instructions/Manual for Accounting Aspects Generally, every bank has a written guidelines/manual/ instructions, which describes in detail, the procedures to be followed for executing various types of transactions. The manual […]

Asset Liability Management Regarding asset liability Management, the auditor is expected to make comment on the following aspects:  Existence of Policy on Asset – Liability Management and monitoring thereof; […]

Functioning of Asset-Liability Management Committee RBI has issued guidelines on ALM system vide circular no BP.BC.8/21.04.098/99 dated February 10, 1999 advising banks to give adequate attention to put in place […]

Large Advances In respect of large advances, the auditor’s responsibility is as under:  Comments on adverse features considered significant and which need Management’s attention. In the normal course of […]

Liquidity and Funds Management Investments The auditor is expected to comment on the following aspects of investments:  Existence of investment policy and adherence thereto; compliance with RBI guidelines.  […]