Concurrent audit of bank

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Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2013 As a concurrent auditor of the branch,how do i check the clearing process?

Ganeshbabu K

Ganeshbabu K (Expert)
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16 June 2013 Generally every bank will provide scope of concurrent auditor..you can see what is the procedure and when to report there it self

Ask them to provide HO guidelines in process of clearing..

Please do refer guidelines and scope provided by HO audit department to you..generally it will be in a soft copy in a dvd format..which also provides format of report they want to receive..

Thanks & regards
Ganesh babu

Ganeshbabu K

Ganeshbabu K (Expert)
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16 June 2013 As a sample for your reference:

1)In respect of outward clearings, the branch follows HO guidelines in affording credit to customers account and no unauthorized drawings are noticed/allowed against uncloaked cheques, concealed overdrafts are not observed.

2) Approvals are sought wherever needed. In the case of inward clearing, received cheques are promptly debited to customers account.

3)Cheques/instruments required to be returned unpaid are returned promptly without delay.

4) Unhealthy features such as detaining the clearing cheques by debit to suspense account are not observed.

5)Where drawings against uncleared cheques are allowed proper charges are collected and necessary approvals are sought wherever required.

Note: above is only a reference you need to follow guidelines stated by respective head office of banks audit department.

Thanks & regards
Ganesh babu k

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