what is the procedure to apply for bank audit.....
i m new to this...
plz guide me....
thnx in advance....
2 Replies
PRATHIMA REDDY
(CA )
(115 Points)
Replied 20 December 2012
FOLLOWING THINGS HAS TO BE VERIFIED FOR BANK AUDITS:
1) First step is vouching
2) Physical verification of Closing cash balance.
3) Physical verification of gold loans( on random basis)
4) Original documents enclosed for loans and gold loanss.
5) Fixed deposits made in other Banks.
6) Fixed deposit interest.
7) Assets register.
8) No of medium size lockers, big size lockers, small size lockers, very big size lockers.
9) Amount of rent received for lockers.
10) Arrears of Locker rents.
11) NPA calculation ( Standard ,Sub standard, Doubtful as per RBI rates they are different from IT rates)
12) Whether all books are updated.
13) Interest calculation on gold loans, deposits from members,deposits made in other banks etc( on random basis).
14) life certificate ( it is applicable for pensioners ).
15) TDS deduction and payment to government.
16) 15G and 15H forms ( these forms are filled while making fixed deposits in Bank).
17) Repayment schedule for loans.
18) Processing charges.
19) Salaries to be verified with the returns filed by the employees.
20) PPF, Lic's, Infrastructure bonds etc has to be verified with the documents .
21) Stock statements who have over draft account and whether they have submitted before due date 7th (i.e., it has to be submitted quarterly once )
I don't know how to apply for bank audit but I know only procedure.
neeraj
(no)
(392 Points)
Replied 21 December 2012
| Originally posted by : PRATHIMA REDDY | ||
 |
FOLLOWING THINGS HAS TO BE VERIFIED FOR BANK AUDITS: 1) First step is vouching 2) Physical verification of Closing cash balance. 3) Physical verification of gold loans( on random basis) 4) Original documents enclosed for loans and gold loanss. 5) Fixed deposits made in other Banks. 6) Fixed deposit interest. 7) Assets register. 8) No of medium size lockers, big size lockers, small size lockers, very big size lockers. 9) Amount of rent received for lockers. 10) Arrears of Locker rents. 11) NPA calculation ( Standard ,Sub standard, Doubtful as per RBI rates they are different from IT rates) 12) Whether all books are updated. 13) Interest calculation on gold loans, deposits from members,deposits made in other banks etc( on random basis). 14) life certificate ( it is applicable for pensioners ). 15) TDS deduction and payment to government. 16) 15G and 15H forms ( these forms are filled while making fixed deposits in Bank). 17) Repayment schedule for loans. 18) Processing charges. 19) Salaries to be verified with the returns filed by the employees. 20) PPF, Lic's, Infrastructure bonds etc has to be verified with the documents . 21) Stock statements who have over draft account and whether they have submitted before due date 7th (i.e., it has to be submitted quarterly once ) I don't know how to apply for bank audit but I know only procedure. |
 |
thank you for that....but i wan to ask you that how to register myself for bank audit....and in mef form there is witten section1,2,3,4....what this section means
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