Audit of currency chest branch of a bank
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2016
Hi Experts I want guidelines for audit of Bank Branch which is treated as Currency Chest.
Thanks
Thanks
Message likes :
1 times
CA Darshan
(Expert)
05 April 2016
In case of Currency Chest branch Audit, you should verify the Cash in out transactions on sample basis. It is under the Control of RBI hence no much manual intervention are involved but still for the purpose of learning and verification of internal control, Start to end full transaction on sample basis needs to verify and then loose area of internal control can be targeted.
Other procedure of Bank Branch Audit should be followed strickly. If currency chest are direct in the control of head office then no need to warry because it will not reflect in Branch balance-sheet. Generally it is in the Control of HO.
Other procedure of Bank Branch Audit should be followed strickly. If currency chest are direct in the control of head office then no need to warry because it will not reflect in Branch balance-sheet. Generally it is in the Control of HO.
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