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its urgent about bank audit

Nikhila (ca final student) (187 Points)

15 January 2010

Hii Friends

I am in urgent need of the Procedure for an Audit of a Bank which is a Mutually aided cooperative credit Society.......

Can u plez provide me the information about the Audit of these type of Societies .

Plez help me guys & girls i need it urgently and this is the first time i m going for audit alone i need ur help i dont even know how to proceed.....

If possible plez mail it to my ID nikks26nikhila @ yahoo.co.in

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CA. Rajesh P. Ahir (In Service @ PSU) (687 Points)
Replied 01 February 2010

hi, cooldown i am replying from a Nationalised bank BOB(i am on audit and that too alone.) . Steps for Bank Audit 1) If it is Co-oprative Bank Than First of All go through it's buy-lows, credit policy, management teem etc. 2) get the list of all advances sanctioned during the concern period of audit. Verify the sanction, documantation etc 3) have a close look at overdue accounts and try to clasify them as NPA or Standared and compare it with npa statement of the bank ( also see the provision for advances)This step is much important from Audit point of view. do this things other i will explain. ....

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