27 March 2010
whatis service branch and what transactions a statutory auditor should verify certify ? please clrify me.we have one srevice branch audit of UBI........please
my question is what is meant by service branch? what should an auditor verify there?is it same as normal branches or does it differ from them? plzzzzzzzz clarify that one
01 April 2010
Yes, the service branch of the bank differs from its normal branch, as it handles all the cheques received by bank for clearing and it is the service branch who comes in touch with Clearing House to get the cheques cleared. For Audit, you need to refer bank manual.
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