Audit of Foreign Exchange Transaction

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Prasanth VN (Querist)
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07 February 2008 hi All

1. pls tell wht are all the areas to be covered in the given list

2. Wht book i can refer to learn basics about foreign exchanges transactions?

1.Policies & Compliance – Board
2.Option Contract
3.Forward Cover
4.Interest Rate Swaps
5.Derivative Procedure – Search from Google
6.Existing Process Study – Who determines & Decides & whether all advices documented
7.Copies of forward cover contract notes / statements
8.Premium and how accounted
9.Any stop loss limits for option contract & forward cover
10 Opportunity gain/loss
11.Spot rules rectification – How Verifies & Source Data
12Rate of transaction date & Settlement date
13Mix of hedging & unhedged
14Cancellation approval process - Profit & Loss
15FCNRB Loan – Accounting or notional basis
16Export & Import Transactions

kartik_somu

kartik_somu (Expert)
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20 March 2008 You refer a good MAFA book for CA final. That will cover most of the aspects listed out here.

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