Account should be mentioned. The items of double response in Head office Account should also be reported.
- The report will also give old/large outstanding debit entries as at the year end which remains unexplained.
- The auditor should review the audit reports for concurrent audit, RBI inspection special audit, internal audit, credit audit, and find out whether they are complied properly. While finalising the report the auditor should consider the major adverse comments arising out of these reports.
- The auditor should peruse the fraud Register and report particulars of Frauds discovered during the year under audit at the branch.
- The auditor can also give suggestions to minimise the possibility of their occurrence.
- The auditor should mention about the adequacy of control and maintenance of records in relation to the Fixed Assets at the branch. The Fixed Asset Register should be updated.
- The calculation of depreciation should be checked properly and any deviation should be reported.
- The auditor should also check on the impairment of the assets.
- The auditor should report whether examination of accounts indicate possible window dressing. The auditor should review the transactions near to the balance sheet date to look into the possibility of window dressing in the account.
- The auditor can also mention any other matter which he would like to bring to the notice of the management or Central Statutory Auditors.
Questionnaire Applicable to specialised branch
- Now a day the banks prefer to have branches on the basis of specalised functions such as branches having foreign exchange transactions, branches for large advances Asset Recovery, Management Branches, Service Branches, The LFAR also provides separate questionnaire for audit of such specialised branches. The auditor is supposed to report additionally as per applicable questionnaire.
While answering these questionnaires, the auditor should understand the functions and working of these branches properly and use his
Suggested list of Relevant RBI Master
Circulars for Scheduled Commercial Banks
|(Note: The following is only a suggested list and not an exhaustive list)
THE CHARTERED ACCOUNTANT MARCH 2015 123
|S. N.||Circular No.||Date||Subject|
|1.7.2014||Export Credit Refinance Facility|
|1.7.2014||Guidelines for Relief Measures By Banks in Areas Affected by Natural Calamities|
|1.7.2014||Frauds-Classification and Reporting|
DBOD. AML. BC. No. 22/14.01.001/2014-15
|1.7.2014||Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/ Obligation of banks under PMLA, 2002|
|1.7.2014||Interest Rates on Rupee Deposits held in Domestic, Ordinary Non- Resident XRO) and Non-Resident (External NRE) Accounts|
|1.7.2014||Lending to Priority Sector|
|23.||RBI/2014-2015/93 RPCD.MSME & NFS.BC.No. 3/06.02.31/2014-15||1.7.2014||Lending to Micro, Small & Medium Enterprises (MSME) Sector|
DBOD No.DIR.BC. 19/04.02.002/2014-15
|1.7.2014||Rupee/ Foreign Currency Export Credit m Customer Service to Exporters|
|1.7.2014||SHG-Bank Linkage Programme|
|1.7.2014||Instructions relating to deposits held in FCXR(B) Accounts|
|28.||RBI/2014-2015/99 IDMD.PCD. 05/14.01.03/2014-15||1.7.2014||Guidelines for Issue of Certificate of Deposit|
|29.||RBI/2014-2015/100 IDMD.PCD.04/14.01.02/2014-15||1.7.2014||Guidelines for Issue of Commercial Paper|
|1.7.2014||Guidelines issued under Section 36(1 a of the Banking Regulation Act, 194v-Implementation of the provision’ of Foreign Contribution (Regulation Act, 2010|
|1.7.2014||Priority ctor Lending-Targets and Classification|
|1.7.2014||Basel III Capital Regulations|
|1.7.2014||Customer Service in Banks|