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Stock audit in bank

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 January 2013 What is Stock Audit in Bank ????
What is procedure to it ??/
Plz give me Advice about Bank's Stock Audit ???
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CA. VIKAS GUPTA

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CA. VIKAS GUPTA (Expert)
17 January 2013 Stock audit is conducted by the banks of all the borrowers having CC limit with bank above certain limit against hypothication of stocks and book debts. Stock auditor will have to go to the site of the borrower with bank officials and he will verify and take physical verification of stocks of the borrower.
Auditor will also check the stock statements and other required documents and will verify that all the terms of sanctions are fulfulled by the borrower.
So auditor should first go to the bank and verify the documents and loan account statement of the borrower and then he should visit the site of borrower.


thnx
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 January 2013 thanks. any one can give me bank stock audit format ?????
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