Bank Audit - your views and Discussions

HELLO ALL

I AM DOING BANK AUDIT AND NEED TO CONFIRM SOME ISSUED A FACED DURING THE CUNCURRENT AUDIT.

1, when i was checking the accounts on FINACLE (Software used by Bank) I saw income and expenditure a/c

i didnt understand why they have prepared income and expediture though it was as per schedule.

2. i saw load to staff was not included in advances

3. i was unable to calculate short recovery.

can any one help.

or if you have any additional questions kindly post it

Replies (3)
1. it is only named as income and expenditure a/c but actually it is profit and loss a/c.
loan to staff is in the nature of advance but you cannot find it under the advance head because advances refer to loans given to customers and not staff.
3. in what cases have you calculated short recovery???? give complete details and then i will be able to help you.

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