Audit Procedure for Accounts falling under CDR Programme : Following audit procedures are to be carried out to assess / gain an understanding about the borrower account. (a) Review the […]
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 […]
Lending under Consortium Arrangement / Multiple Banking Arrangements:
Lending under Consortium Arrangement / Multiple Banking Arrangements: In order to strengthen the information sharing system among banks in respect of the borrowers enjoying credit facilities from multiple banks, the […]
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 […]