Stock audit of banks

Kashish Gupta (B.com (H) , ACA) (368 Points)

30 May 2013

HELLO FRIENDS....

GREETINGS OF THE DAY

COULD YOU PLEASE HELP ME IN GATHERING INFORMATION REGARDING

''HOW TO CONDUCT STOCK AUDIT OF BANKS ?''

PLEASE ADVICE ME ALSO REGARDING PROCEDURE TO CONDUCT THIS AUDIT. THIS WILL BE A GREAT HELP FOR ME.

THANKS. :)

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3 Replies

navinkumar naicker (Article) (419 Points)
Replied 30 May 2013

hiii,

Bank Stock audit are mainly concerned with verification of its clients book regarding the management of their working capital

under stock audit u will mainly verify the

1) Operations in CC A/c

2) Stock verification

3) debtors verification

4) all other working capital limits enjoyed by the client.

5) Physical Stock verification.

6) lastly verification of loan sanction documents thoroughly, b;coz auditor would be giving his opinion in that aspect.

Hope this si sufficient.

let others also contribute.

navin.

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MD. RAFI (Manager Accounts (future CA)) (670 Points)
Replied 30 May 2013

Originally posted by : navinkumar naicker
	hiii, Bank Stock audit are mainly concerned with verification of its clients book regarding the management of their working capital under stock audit u will mainly verify the 1) Operations in CC A/c 2) Stock verification 3) debtors verification 4) all other working capital limits enjoyed by the client. 5) Physical Stock verification. 6) lastly verification of loan sanction documents thoroughly, b;coz auditor would be giving his opinion in that aspect. Hope this si sufficient. let others also contribute. navin.