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All posts by Tina Saha - 371. page

Professional Tax Consultant and Article Writer

Sacrifice of interest

Sacrifice of interest : In respect of sacrifice of interest, the auditor should examine whether: (a) Interest sacrifice involved in the amount of interest has been provided for by debit […]

Funding of Interest

Funding of Interest : In addition, the auditor should also consider the fact that during the course of restructuring/rescheduling in any manner, the interest element, in addition to the principal […]

Restructuring of cases

Restructuring of cases : RBI has given guidelines for treatment of restructured accounts in part B of the Master Circular on Prudential Norms on Income Recognition, Assets Classification and Provisioning […]

Retail Assets

Retail Assets : The retail assets in various banks at present form a significant part of their portfolio. As there are large numbers of accounts in these cases, the same […]

Drawing Power Calculation

Drawing Power Calculation : Working capital borrowal account, drawing power calculated from stock statement older than 3 months has to be considered as “irregular” (overdue). If such “irregular” continues for […]

Verification of Provision for Non-performing assets

 Verification of Provision for Non-performing assets An important aspect of audit of advances relates to their classification and provisioning. This implies that a proper provision should be made in respect […]

Other Aspects

Other Aspects Sometimes, a customer is sanctioned a cash credit limit at one branch but is authorised to utilise such overall limit at a number of other branches also, for […]

Verification of Bills Purchased and Discounted

Verification of Bills Purchased and Discounted The auditor should familiarise with the guidelines issued by RBI and the policies framed by the bank itself regarding the discounting and rediscounting of […]