Stock audit of banks

HELLO FRIENDS....

GREETINGS OF THE DAY

COULD YOU PLEASE HELP ME IN GATHERING INFORMATION REGARDING

''HOW TO CONDUCT STOCK AUDIT OF BANKS ?''

PLEASE ADVICE ME ALSO REGARDING PROCEDURE TO CONDUCT THIS AUDIT. THIS WILL BE A GREAT HELP FOR ME.

THANKS. :)

Replies (3)

hiii,

Bank Stock audit are mainly concerned with verification of its clients book regarding the management of their working capital

under stock audit u will mainly verify the

1) Operations in CC A/c

2) Stock verification

3) debtors verification

4) all other working capital limits enjoyed by the client.

5) Physical Stock verification.

6) lastly verification of loan sanction documents thoroughly, b;coz auditor would be giving his opinion in that aspect.

 

Hope this si sufficient.

 

let others also contribute.

 

navin.

Originally posted by : navinkumar naicker

hiii,
Bank Stock audit are mainly concerned with verification of its clients book regarding the management of their working capital
under stock audit u will mainly verify the
1) Operations in CC A/c
2) Stock verification
3) debtors verification
4) all other working capital limits enjoyed by the client.
5) Physical Stock verification.
6) lastly verification of loan sanction documents thoroughly, b;coz auditor would be giving his opinion in that aspect.
Hope this si sufficient.
let others also contribute.
navin.

7. Verification stock insurance (with bankers clause)

8. Verification of creditors

9. If they have bank a/c in other bank, whether the balance is regularly transfered to cc a/c or not.

10. BRS upto the date of audit.

Governance structure & last 2 years audited statements of a/c with auditors report etc.

Hey Mr. Kashish. This link may help you a bit.

https://accountsknowledgehub.blogspot.in/2012/06/stock-audit-in-banks.html

Thanks.

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