Concurrent audit of bank

This query is : Resolved

Share Report Follow Query Ask a Query

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)
Follow

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)
Follow

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

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

shobi H

P.S.Satya narayana

SARAVANAN PALANISAMY

tsrandcompany@gmail.com

nandeesh mashyal

Subscribe Now

Concurrent audit of bank

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

Senior Executive

Accountant

CA Final

Manager- Finance and Compliance