BANK AUDIT

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CMA KNVV Sri Vidya - Sri Kanth (C.A.Final (New) ICWAI FINAL (New)) (11269 Points)
Replied 13 April 2009

thanks to all for reading this

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Mahesh ( CA Final) (132 Points)
Replied 14 April 2009

As per my knowledge, Statutory audit is important audit, this don by Chartered accountants

Statutory auditors Procedure

1. verify the Previous audit file

2. to get all statements means ( P& L A/c, B/s , All advance , Sal Details , tds details , service tax , depriciation etc....

Advance is very important bec advance is big asset for banking companies so, auditor must concentrate on advance, advance means Trem loan, CC , OD .PL . AL . CL, HL. this are the imp if bank not recovering correctly then bank become a Lemmon Brother Case, so the statutory auditor concentrate on this , if loans principals & intrest not paid properly according to Slap, then he as to tret as N PA .

Depricatio also as to very

Original Cost value, Acc dep, current Dep , Rate of dep for diffirent asset , addition and Delition etc

salary

HRA, Gratuity , allowance , Tax calculation , tds deducted and paid challan's Bal to Payable ,

Physicla verification of stock