Patel Mehta & Associates Service

Bank Audits – Statutory

The firm was established in 1979 and over a period of years has undertaken audit assignments
of various banks. Our audit approach involves following process:

Know the Branch

  • Level of Automation (Risks, Complexity in Working)
  • Previous Year’s Audit report/LFAR
  • Risk Based Internal Audit reports, Exception reports, Revenue reports, RBI Inspection reports

Understanding the banking software

  • CBS (Records Day to Day Software)
  • Financial Statements Generating Software, Asset Classification and Provisioning software

Understanding System Generated Transactions & Manual Inputs

  • Application of Interest, Service Charges, Balancing and Reconciliations
  • Classification of non-operative accounts, NPAs
  • Penal Interest, Overdue Principal and Interest

Verification of Components of Financial Statements

  • Balance Sheet, Statement of Profit and Loss
  • Off Balance Sheet Items

Audit Procedures

  • Trend Analysis, Ratio Analysis
  • Using Sampling techniques to evaluate NPAs, SMAs, Restructured Accounts,Upgraded Accounts, Critical Accounts highlighted in Concurrent audits
  • Status of Off balance sheet items like LCs opened, LCs devolved, BGs invoked, provisioning on non-fund based limits


  • Conclusions drawn based on the above audit procedures to be discussed with branch head and subsequent reporting in MOC and LFAR
Patel Mehta & AssociatesHeadquarters
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OUR LOCATIONSWhere to find us?
404, W1, Inside Lane of Newyork Timber Mart, Opp. PSP Projects corporate house, Nr. Antriksh Colony BRTS Stop, Off. Iscon Ambli Road, Ahmedabad - 380058
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Copyright by Patel Mehta & Associates. All rights reserved.

Copyright by Patel Mehta & Associates. All rights reserved.