practical steps in audit of a bank

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srinivas (Querist)
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03 November 2008 please provide practical steps in audit of a bank with respect to

1.Statutory Audit

2. Concurrent Audit

3. Internal Audit

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psrinivas1 @ in.com

CA Shyam Dagia

CA Shyam Dagia (Expert)
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10 November 2008 The general audit guidelines apply to all the audits.
Statutory audit relates to a balance sheet audit and Documentation and Assets classification is the key aspects.

Concurrent Audit has a vast scope and includes all the day to day transactions. So you require to check all the transactions regularly.

Internal audit depends at the area for which it is being carried out. It has a aim and the audit is carried out to check a particular controls or procedures.

srinivas

srinivas (Querist)
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13 November 2008 Sir,
thanks for the reply

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