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
- Conclusions drawn based on the above audit procedures to be discussed with branch head and subsequent reporting in MOC and LFAR
Patel Mehta & AssociatesHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
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
Copyright by Patel Mehta & Associates. All rights reserved.
Copyright by Patel Mehta & Associates. All rights reserved.