Head Office
Apart from examination of consolidation of branch returns, verification of capital and reserves, and verification of investments and provisioning in respect thereof, the central auditors also usually deal with the following items:
provision for non-performing assets;
depreciation on assets like, premises, etc. where the recording of the relevant fixed assets is centralised at the head office;
provisions for certain employee costs, such as, bonus/ex-gratia in lieu of bonus, gratuity, pension and other retirement benefits;
provision for taxation;
provision for audit fee;
provisions to meet any other specific liabilities or contingencies the amount of which is material, for example, provision for revision in pay-scales of employees, provision for foreign exchange fluctuations, etc; and
Dividends.