Audits/Inspections
(i) Is the branch covered by concurrent audit or any other audit/ inspection during the year?
(ii) In framing your audit report, have you considered the major adversecomments arising out of the latest reports of the previous auditors, concurrent auditors, stock auditors or internal auditors, or in the special audit report or in the inspection report of the Reserve Bank of India? State the various adverse features persisting in the branch, though brought out in these audit/ inspection reports.
Obtain a list of audit which the Branch was subjected to during the previous year.
The scope of each audit may be reviewed to identify adequate coverage of branch activities.
Obtain all the reports and peruse the reports for any adverse remarks.
Whether branch has been addressing all issues noted promptly – whether there are any repeat issues –
Whether the Gap or Process failure that lead to the transactional error reported is addressed –