Give your views on the following:
1 (a) During the course of the audit of a branch of a bank, the branch auditor identifies certain advances as doubtful and does not agree with the classification as “standard” by the branch manager. How should he proceed?
b) A non-banking finance company does not classify its advances as performing and non-performing assets. How do you react?
c) A private limited company sponsors a road show by a political leader for the election campaign. How do you deal with it as an auditor?
d) A private limited company does not give related-party disclosures saying that the provisions do not apply to a private limited company. How will you proceed?
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