moc

moc= memorandum of changes

its given by the auditor if he is not satisfied with NPA's shown/declared by the bank and he finds that there are more accounts to be declared as NPA he that he gives a MOC to effect the changes in the financial statements of bank

i don't know the theoretical concept just aware of the practical utility i think this might help

Hiii

MOC means Memorandum of Changes..

When Auditor is not satisfied with the classification of Advances done by the bank than he can report the classification in MOC. If he thinks that a particular account is being classified as Standard but in his opinion it should be in sub standard or doubtful or loss than he can give the effect in MOC. As bank has to make provision on its advances at various rates. For substandard it is 20% for doubtful it is 30% and for Loss Assets it is 100%. when the classification of advances changes it affect the P&L of bank. 

Normaly no auditor signs the MOC as it affect the ranking of the Bank Manager.

hey can u tell me what formalities should be fulfiled by branch auditor for issuing MOC

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