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LONG FORM AUDIT REPORT

LONG FORM AUDIT REPORT. COMPONENTS OF LFAR. ASSET LIABLITY PROFIT AND LOSS ACCOUNT GENERAL. CASH MANAGEMENT. MAINTENANCE AT CRL INSURANCE COVER SURPRISE VERIFICATION BALANCE WITH RBI/SBI/PSB. INVESTMENTS ASPECTS.

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LONG FORM AUDIT REPORT

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  1. LONG FORM AUDIT REPORT

  2. COMPONENTS OF LFAR • ASSET • LIABLITY • PROFIT AND LOSS ACCOUNT • GENERAL

  3. CASH MANAGEMENT • MAINTENANCE AT CRL • INSURANCE COVER • SURPRISE VERIFICATION • BALANCE WITH RBI/SBI/PSB

  4. INVESTMENTS ASPECTS • ANY INVESTMENT MAINTAINED BY THE BRANCH ON BEHALF OF THE BANK HO • PHYSICAL VERIFICATION OF SUCH ASSETS • INCOME GENERATED ON SUCH INVESTMENTS WHETHER DULY ACCOUNTED • ANY MATURED INVESTMENTS • ANY INVESTMENTS IN UPCOUNTRIES

  5. ADVANCES • ADVERSE FEATURES /DEFICIENCIES TO BE QUALIFIED IN TERMS OF ADVANCES OVER RS.2 CR

  6. CREDIT APPRAISAL • SANCTIONS AND DISBURSEMENTS • DOCUMENTATIONS • REVIEW AND RENEWAL • CLASSIFICATION OF ASSETS-NPA MANAGEMENT

  7. NON PERFORMING ASSETS • CLASSIFICATION OF ASSETS • LEGAL ACTION APPROVED NOT IMPLEMENTED • DICGC CLAIMS • VALUATION OF SECURITIES • ONE TIME SETTLEMENT –RECOVERY POLICY

  8. OTHER ASSETS • STATIONERY ITMES & STAMPS • SUSPENSE ENTRIES- WHETHER QUALIFY FOR PROVISIONING

  9. LIABLITIES • DEPOSITS • BILLS PAYABLE • CONTIGENET LIABLITY

  10. DEPOSITS • INOPERATIVE ACCOUNTS • MOVEMENT OF DEPOSITS DURING AUDIT PERIOD • OVERDUE DEPOSITS

  11. BILLS PAYABLE AND CONTIGENT LIABLITY • AGE OF BILLS PAYABLE • UNUSUAL CREDIT/DEBIT ENTRY • OTHER THAN BG/LC ANY NEW ITEMS

  12. PROFIT AND LOSS ACCOUNTS • INTEREST CALCULATIONS –RANDOM VERIFICATION • INCOME RECOGNITION NORMS • EXCESS OR SHORT CALCULATION • ACCURED INTEREST WHETHER CALCULATED • DIVERGENT TREND IN DEPOSITS

  13. GENERAL REPORTS • BOOKS AND RECORDS • COMPUTERISED BRANCHES • HARD COPIES PRINTOUT • EXTEND OF COMPUTERISATION • SECURITY COVERAGE • BACK UP MAINTENANCE • ANY OTHER SUGGESTION

  14. GENRERAL REPORT (CONTD) • RECONCILATION OF GL TO SUB GL • INTERBRANCH TRANSACTIONS • AUDIT AND RBIA REPORTS • FRAUDS REPORTING • MISCELLANEOUS – WINDOW DRESSING , CAPITAL ASSET MAINTENANCE

  15. SPECIALISED BRANCH • DEALING BRANCH INSPECTION REPORT • PROPER CONTROL ON FEX DEPOSITS, ADVANCES, EXPORT BILL, COLLECTION BILLS • NOSTRO ACCOUNT- NO OF ACCOUNTS, CONFIRMATION OF BALANCE, RECONCILATION

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