BANK BRANCH AUDIT PLANNING

Size: px
Start display at page:

Download "BANK BRANCH AUDIT PLANNING"

Transcription

1 BANK BRANCH AUDIT PLANNING Banking Industry in India is developing and expanding day by day. The basic work culture in banks in India is fairly different as compared to banks in other countries. The customers (Deposit holders or borrowers) of the banks are being serviced now through Internet, Core Banking Solutions (CBS) etc resulting very less personal interaction with bankers. Because of this changing face of banking industry it is very much necessary to properly plan Bank Branch Audit. Banking Industry is a facebook of Economy of the Country. It speaks about economic growth, its stability and soundness. Fortunately, due to regulations and controls, Indian Banking Industry could sustain when banks in others countries are facing problems due to threats like frauds etc. 1. WHAT IS PLANNING? Planning means Advance Thinking. It is an Attitude. Auditors must develop this attitude and properly plan for Bank Branch Audit allotted to them because of various reasons narrated below. In fact every Chartered Accountant plans the audit assignments but it is necessary to make the plan effective so as to generate and deliver proper and acceptable final result. 2. WHY PLANNING IS NECESSARY? If you try to understand the importance and purpose of planning, you will come to know that planning will help the audit team to carry out the audit assignment more comfortably. Plan is necessary because of following factors. Non Performing Assets (NPA s) and Frauds are required to be checked in limited time available and controls are also to be checked. Data is invisible. Access takes time.

2 Banks are dealing with various products unlike earlier basic functions i.e. Acceptance of Deposits and giving Advances. Various legal and statutory requirements are required to be followed while reporting under Bank Branch Audit. Auditors today are required to consider working paper management risk for reasons like Peer Review. To sum up planning is necessary for various reasons stated above particularly to meet the target in a given time limit. 3. WHAT IS TO BE PLANNED? Timing- Starting Date Detailed Program to be followed on each day during audit Winding up. Man Power Formation of team with proper combination of personnel like senior, junior etc. Working Paper Management To be decided considering continuity of assignment in future as well as Peer Review. Standardize Checklists, Formats of Letters and Reports to facilitate common and uniform understanding within the team. Samples selection method Analytical review procedure. 4. THINGS TO BE CONSIDERED WHILE PLANNING: Well before the Audit Team visit the branch, you must be ready with sufficient and required knowledge of applicable RBI Circulars. You should know in advance about the business mix at a branch allotted to you. You should be very well conversant with the latest guide lines and background materials published by Institute of Chartered Accountants of India (ICAI). After having done the basic things as above, if possible, visit the branch before 31 st March and obtain Audit Reports or any other reports related to business of the branch which will help you to prepare Audit Plan. Always involve everybody in the team right from the beginning in all

3 activities from planning, execution till submission of report. This will help developing good audit team and remote control over plan will be possible. Standardization in the form of checklists and/or bullet points may be of great help while conducting Bank Branch Audit. Preparation of such checklist is nothing but planning for Bank Branch Audit. CONCLUSION: It has become necessity today to consider the risk involved in any audit assignment to give comfort level to everybody involved in the process including Auditors. The end product of Audit is always an Audit Report which is a written document signed by a Chartered Accountant. A written communication/document committing ourselves that carries some responsibilities. Responsibility will always have built-in- risk which requires to be controlled at each point of time. Therefore the required knowledge is necessary to carry the responsibility which in turn requires personal involvement. Since the time and resources are limited for personal involvement, it is necessary to plan Bank Branch Audit. AIM SHOULD BE TO DELIVER ACCURATE, COMPLETE AND TIMELY REPORT.

4 The key in a Bank Branch Audit Planning is - 1) An early start 2) Knowledge of banking business 3) Proper planning with a clear focus and vision knowing what is to be done, how, by whom, when and why and effective monitoring 4) Effective discussions with concerned branch officials 5) Testing of internal controls 6) Clarity on risks faced by the branch 7) Maintaining proper work papers 8) Effective audit sampling 9) Skilful use of MIS reports 10) Use of written representations 11) Obtaining Discussion Certificate from branch head 12) Ensuring compliance with RBI circulars especially regarding NPA identification, classification and provisioning 13) Detailed balance sheet and Profit and Loss scrutiny 14) Clear and specific replies to the questions in the LFAR and Ghosh Gilani Committee reports, mandatory certifications and signing off the tax audit report 15) Ensuring adherence to the deadlines 16) Giving appropriate disclaimers and issuing MOC, and qualifications wherever warranted.

5 Bank Branch Audit Program / Illustrative Checklist Time & Manpower planning Sr. N Name of the person Designation & Estimated time for work Initials of the Person Audit Program Sr. Area of Work No. A B C General - Pre Audit Work 1 Review of Latest available inspection reports of Internal/Concurrent/RBI/Statutory Auditors and compliance thereof 2 Review of Closing Circular issued by Head Office 3 Study of Significant accounting policies of the Bank & computer system 4 Study of Business mix of the Branch & determination of the sample size and percentage of checking in each area 5 Compliance of Mandatory Accounting Standards / Auditing Standards and RBI circulars 6 Intimation in writing whether given to the Branch Manager regarding requirements for audit and documents to be kept ready for audit Physical Verification 1 Physical verification of Cash (in branch and in ATM), Adhesive stamp documents and postage and cross verification of the same with GL 2 balances. Physical verification of Investments. (if lodged at Branch) 3 Physical verification of valuable stationery like cheque books, Demand Drafts, Pay - Orders etc. Verification of Returns and Reconciliation 1 Verification of returns submitted to RBI / HO / ZO ( Monthly/ Quarterly / Half Yearly / Yearly ) 2 Verification of Annual Closing Returns 3 Verification of HO / Branches / Other Banks Reconciliation, Branch Adjustment Account, Suspense account etc. 4 Verification of Statement of Fraud 5 Verification of NOSTRO reconciliation Person responsible at the Branch for that area Done by whom, Date

6 Sr. No. D E Area of Work Verification of Balances 1 Checking of opening balances in GL with previous year audited Balance Sheet and Profit & Loss Account 2 Cross Verification of Trial Balance, Profit & Loss Account and Balance Sheet figures as on 31 st March with GL figures Balance Sheet 1 Advances 100 % coverage of advances in respect of which outstanding amount is in excess of 5% of the aggregate advances of the branch or Rs. 2 crores whichever is less a. Credit Appraisal b. Sanctioning and Disbursement c. Documentation - Pre-sanction & Post Sanction d. Monitoring/ Review/ Supervision by the Branch 1. Submission of financial statements 2. Submission of I.T. Returns 3. Timely submission of stock statements 4. 4.Calculation of Drawing Power 5. Inspection of Godowns 6. Operations in the account - overdue/ sticky accounts / diversion of funds/ cheques duly honoured/ limit not exceeded frequently 7. Renewal of documents due 8. Penal interest for default 9. Insurance coverage 10. Registration and Mortgage of property 11. Verification of data in CBS with special reference to BASEL II requirements of LTV ratio in case of housing loans etc. 2 Analysis of entries outstanding in suspense Account, Sundry Debtors, Sundry Creditors 3 1. Verification of assets classified as NPA. 2. Verification of Upgraded Accounts earlier classified as NPA 4 Review of suit filed accounts / Decreed accounts & their follow - Person responsible at the Branch for that area Don e by whom Date

7 up 5 Checking of additions, deductions, transfer of fixed assets with relevant supporting 6 Verify that all balances are shown under proper heads

8 Sr. N o F Area of Work 7 Verify that credit balances in OD, CC, inoperative current accounts are not netted off with advances and are shown separately under demand deposits Verify that Interest accrued but not due on loans is not included in 8 Deposits 1. After the Balance Sheet date & till the date of audit whether there have been any unusual large movements in the aggregate deposits held at the year 2. Verification of Staff Accounts 3. Check that guidelines issued by RBI for inoperative & dormant accounts are strictly followed 4. Verify that overdue, matured time deposits are shown in demand deposits 5. Verify that interest accrued but not due is not included in deposits but 9 Analysis of entries outstanding in Bills Payable/ Sundry Deposits etc. 10 Obtain list of contingent liabilities not acknowledged as debts by the branch Check for correct Profit & Loss Account 1 Verification of provision of interest on standard, substandard, doubtful & loss assets and appropriate accounting 2 Checking of proper classification of revenue and expenditure items 3 Ratio Analysis and comparison with previous year figures 4 Verify whether there is any divergent trend in major items of income & expenditure and analysis of reasons 5 Test checking of interest on deposits and advances 6 Test checking of commission and discount on bills etc. 7 Verification of accounts of major heads of income & expenditure 8 Verification of provisions for prepaid and outstanding income & expenditure 9 Verification of locker rent received and due and provision thereof Person responsible at the Branch for that area Done by whom Date

9 Sr. N o. G H I Area of Work Person responsible at the Branch for that area 10 Verification of provision for depreciation on fixed assets 11 Checking of prior period expenses and income and provisioning thereof 12 Checking of provisions for ECGC/ DICGC claims LFAR 1 Checking of items as per LFAR checklist 2 Preparation of annexures to LFAR 3 Preparation of LFAR Special emphasis on restructured accounts / 4 NPAs Tax Audit Report 1 Check the followings in detail- 1. Payments made to clubs 2. Details of revenue expenditure capitalised 3. Whether TDS has been remitted before the due date 4. Particulars of Income and Expenditure of earlier years debited / credited to Profit & Loss Account which are of material nature 5. Verify whether any repayment of deposits have been made in violation of section 269 T of the Income Tax Act Checking of Tax Audit Schedules 3 Preparation of Tax Audit Report Verification of Checklist of Jilani Committee Recommendations Done by whom Date J Verification of Checklist of Ghosh Committee Recommendations K Collection of following certificates and statements from Branch 1 Physical verification of cash 2 Physical verification of Adhesive Stamp Documents, Postage, Security etc. 3 Physical verification of Investments

10 4 Physical verification of Fixed Assets carried out by Branch 5 NPA Statement, Profit & Loss Account, Balance Sheet, Trial Balance certified by Branch Manager 6 Management Representation Letter 7 Certificate from Branch Manager for attendance of Audit

11 Sr. No. L Area of Work Issue of Certificates 1 Certificate for Review of Loan Portfolio 2 Certificate relating to recoveries in claim paid accounts under small loan Guarantee Scheme 1971 and Small Loan (SSI) Guarantee Scheme, Certificate in respect of subsidy utilised under the scheme Prime Minister's Rojgar Yojana (PMRY) and correctness of claim made 4 Certificate regarding the implementation of Jilani & Ghosh Committee recommendations 5 Certificate regarding possession of investment documents on behalf of Head Office Person responsible at the Branch for that area Done by whom Date 6 Certificate for DICGC Claim 7 Movement of NPAs 8 Certificate of BASEL-II, if any M N Finalisation Preparation of Draft of the following Audit Report 2. LFAR & Annexures 3. Tax Audit Report 4. Jilani Committee Recommendations 5. Ghosh Committee Recommendations 6. Memorandum of Changes 2 Discussion of Draft Report with Branch Manager 3 Preparation of Final Report 4 Submission of Final Report along with Copies of Signed Balance Sheet, Profit & Loss Account and certificates. Review of work done by Audit Team 1 Senior 2 Junior 3 Articled Clerks 4 Employee

Bank Branch Audit Program / Illustrative Checklist Time & Manpower planning Sr. N. Designation &

Bank Branch Audit Program / Illustrative Checklist Time & Manpower planning Sr. N. Designation & Bank Branch Audit Program / Illustrative Checklist Time & Manpower planning Sr ame of the person Designation & Estimated time for work Initials of the Audit Program Sr o A B C General - Pre Audit Work

More information

AUDIT PLANNING, REPORT CERTIFICATION

AUDIT PLANNING, REPORT CERTIFICATION AUDIT PLANNING, REPORT & CERTIFICATION Ca. Ramesha Shetty FCA, MBA, DISA(ICAI), CISA(USA) 1 BRANCH AUDIT-Schedule March 21 : Attended Bank Audit Seminar March 15-25 : Appointment letter March 26-30 : Acceptance

More information

Bank Branch Audit - LFAR, Tax Audit Report and Statutory Certificates (Baroda Branch of WIRC of ICAI)

Bank Branch Audit - LFAR, Tax Audit Report and Statutory Certificates (Baroda Branch of WIRC of ICAI) Bank Branch Audit - LFAR, Tax Audit Report and Statutory Certificates (Baroda Branch of WIRC of ICAI) CA Rashmikant Thakkar, Vadodara. rcthakkarca@gmail.com (M) 09879447009 Introduction- Bank Audit & Types

More information

AUDIT PLANNING, REPORT CERTIFICATION

AUDIT PLANNING, REPORT CERTIFICATION AUDIT PLANNING, REPORT & CERTIFICATION Ca. Ramesha Shetty FCA, MBA, DISA(ICAI), CISA(USA) 1 Stages Planning - Home work Planning - Documentation Execution Report & Certification 2 AUDIT PLANNING - OBJECTIVES

More information

BANK BRANCH STATUTORY AUDIT CERTAIN ASPECTS. Verify transactions during the year relating to:

BANK BRANCH STATUTORY AUDIT CERTAIN ASPECTS. Verify transactions during the year relating to: BANK BRANCH STATUTORY AUDIT CERTAIN ASPECTS S. Item Important Audit Checks 1. Deposit i. Term ii. Saving iii. Current iv. FCNR/ NRE/ NRNR Verify transactions during the year relating to: o New Accounts

More information

The rapid advancement in information

The rapid advancement in information Bank Branch Audit An Overview Come the month of March and Chartered Accountants all over the country begin to sharpen their skills for conducting audit of several thousands of bank branches in the country.

More information

Statutory Audit of Bank Branches

Statutory Audit of Bank Branches Statutory Audit of Bank Branches Western India Regional Council of the Institute of Chartered Accountants of India Borivali Central CPE Study Circle March 17, 2013 Manish Sampat Contractor, Nayak & Kishnadwala

More information

Bank Branch Audit Managing Risk. An Integrated Work Paper Model. A Smart CA Update - CA Sripriya Kumar. Member SIRC of ICAI PART I

Bank Branch Audit Managing Risk. An Integrated Work Paper Model. A Smart CA Update - CA Sripriya Kumar. Member SIRC of ICAI PART I Bank Branch Audit Managing Risk An Integrated Work Paper Model A Smart CA Update - CA Sripriya Kumar Member SIRC of ICAI PART I This document is published under the Smart CA professional initiative and

More information

Bank Audit Planning. By: Deepak Bholusaria

Bank Audit Planning. By: Deepak Bholusaria Bank Audit Planning By: Deepak Bholusaria If you fail to Plan, You plan to fail! Objective of this presentation Beginner s guide towards developing/sketching an audit approach. Do not wish to suggest detailed

More information

MEANING OF CONCURRENT AUDIT

MEANING OF CONCURRENT AUDIT CONCURRENT AUDIT COVERAGE Meaning Concurrent Audit Need & Objective of Concurrent Audit & How to get empanelled for Concurrent Audit in Banks Frequency, Fee and Billing of Concurrent Audit Scope & Coverage

More information

Paper 5- Financial Accounting

Paper 5- Financial Accounting Paper 5- Financial Accounting Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 5- Financial Accounting Full Marks:100 Time allowed:

More information

[STEPS FOR SCRUTINY OF BALANCE SHEET]

[STEPS FOR SCRUTINY OF BALANCE SHEET] [STEPS FOR SCRUTINY OF BALANCE SHEET] Get Balance Sheet & Trial Balance as on 31.03.2014 Tally the figures of Total Advances, Deposits and so on Get Balance Sheet as on 31.03.2013 as well & compare Yield

More information

CONCURRENT AUDIT UNDER COMPUTARISED ENVIRONMENT CHECKPOINTS & PROCEDURES

CONCURRENT AUDIT UNDER COMPUTARISED ENVIRONMENT CHECKPOINTS & PROCEDURES CONCURRENT AUDIT UNDER COMPUTARISED ENVIRONMENT CHECKPOINTS & PROCEDURES BY CA ARVIND JOSHI Bcom. FCA, DISA (ICAI), CISA (USA) Many of us are in Bank Audit since many years. Some of us may be new entrants

More information

Bombay Chartered Accountants Society. Lecture Meeting. Issues in Bank Audit. Akeel Master 23 March 2011

Bombay Chartered Accountants Society. Lecture Meeting. Issues in Bank Audit. Akeel Master 23 March 2011 Bombay Chartered Accountants Society Lecture Meeting Issues in Bank Audit Akeel Master 23 March 2011 Contents Current economic environment Key characteristics of a bank Scope of statutory audit Significant

More information

Q. 1. Rajatapeeta Bank Ltd., had extended the following credit lines to a Small Scale Industry, which had not paid any Interest since March, 2008 :

Q. 1. Rajatapeeta Bank Ltd., had extended the following credit lines to a Small Scale Industry, which had not paid any Interest since March, 2008 : CHAPTER - 9 FINANCIAL STATEMENTS OF BANKING COMPANIES Q. 1. Rajatapeeta Bank Ltd., had extended the following credit lines to a Small Scale Industry, which had not paid any Interest since March, 2008 :

More information

INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING NORMS FOR THE URBAN COOPERAT IVE BANKS

INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING NORMS FOR THE URBAN COOPERAT IVE BANKS INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING NORMS FOR THE URBAN COOPERAT IVE BANKS 1. Introduction As a major element of the Financial Sector Reforms in India, RBI introduced prudential norms

More information

STANDARD OPERATING PROCEDURES FOR FINANCIAL DEPARTMENT FOR HOCKEY INDIA / HOCKEY INDIA LEAGUE

STANDARD OPERATING PROCEDURES FOR FINANCIAL DEPARTMENT FOR HOCKEY INDIA / HOCKEY INDIA LEAGUE STANDARD OPERATING PROCEDURES FOR FINANCIAL DEPARTMENT FOR HOCKEY INDIA / HOCKEY INDIA LEAGUE HOCKEY INDIA / HOCKEY INDIA LEAGUE 1. OBJECTIVE The aim of this SOP is to lay down necessary directives for

More information

AUDIT OF STOCKS AND RECEIVABLES

AUDIT OF STOCKS AND RECEIVABLES AUDIT OF STOCKS AND RECEIVABLES ------------------------------- dated ------------------------------- Sub. : Stock & Receivable Audit of. Kind Attention : Mr. (DF/G.M. Accounts & Finance of the Company).

More information

Loanable Funds Bank can sanction Loans up to 75 % of Own Funds, 70 % of Deposits & 100 %of borrowing. Types of Loan Cash credit Overdraft Bill

Loanable Funds Bank can sanction Loans up to 75 % of Own Funds, 70 % of Deposits & 100 %of borrowing. Types of Loan Cash credit Overdraft Bill Credit Monitoring Introduction Credit Monitoring is an important part of Credit Management. Banking means the accepting for the purpose of lending or investment, of deposits of money from the public, repayable

More information

BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability)

BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability) BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability) BALANCE SHEET AS AT MARCH 31, 2013 (Amounts in thousands of Indian Rupees) Schedule CAPITAL AND LIABILTIES Capital 1 10,695,793

More information

LONG FORM AUDIT REPORT Of.. LIMITED For the year ended.. Ashad 206 (Corresponding to..july 20 ) Auditor:

LONG FORM AUDIT REPORT Of.. LIMITED For the year ended.. Ashad 206 (Corresponding to..july 20 ) Auditor: cg';"rl @!=& LONG FORM AUDIT REPORT Of.. LIMITED For the year ended.. Ashad 206 (Corresponding to..july 20 ) Auditor: M/s. 1 1. AUDIT APPROACH 1.1 Brief description of the Audit plan with focus on the

More information

BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability)

BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability) BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability) BALANCE SHEET AS AT MARCH 31, 2015 (Amounts in thousands of Indian Rupees) Schedule CAPITAL AND LIABILTIES Capital 1 19,186,861

More information

BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability)

BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability) BNP PARIBAS -- INDIAN BRANCHES (Incorporated in France with limited liability) BALANCE SHEET AS AT (Amounts in thousands of Indian Rupees) Schedule CAPITAL AND LIABILTIES Capital 1 19,186,861 10,695,793

More information

INFORMATION BROCHURE. Refinance Scheme for Scheduled Banks for their lending for Housing, 2003

INFORMATION BROCHURE. Refinance Scheme for Scheduled Banks for their lending for Housing, 2003 INFORMATION BROCHURE Refinance Scheme for Scheduled Banks for their lending for Housing, 2003 1. Introduction The objective of the scheme is to provide refinance assistance to Scheduled Banks (SBs) in

More information

STATUTORY BANK BRANCH AUDIT INDEX. Particulars No.

STATUTORY BANK BRANCH AUDIT INDEX. Particulars No. STATUTORY BANK BRANCH AUDIT CA VIJAY KUMAR GARG INDEX Sr Particulars Page No. No. 1 Key provisions of the Banking Regulation Act, 1949 2 2 Audit process in Statutory Bank Branch audit 3 3 Draft Engagement

More information

REVISED SCHEDULE VI DISCLOSURE REQUIREMENTS: AN OVERVIEW

REVISED SCHEDULE VI DISCLOSURE REQUIREMENTS: AN OVERVIEW REVISED SCHEDULE VI DISCLOSURE REQUIREMENTS: AN OVERVIEW Ministry of Corporate Affairs [MCA], Government of India, has on 3 March 2011, hosted on its website, the revised Schedule VI to the Companies Act,

More information

STATEMENT OF NET WORTH AS AT. DESCRIPTION VALUATION BASIS Rs. In 000

STATEMENT OF NET WORTH AS AT. DESCRIPTION VALUATION BASIS Rs. In 000 STATEMENT OF NET WORTH AS AT DESCRIPTION VALUATION BASIS Rs. In 000 Listed (quoted) investments in the name of the applicant which are not on the default counter of any of the stock exchanges. Market Value

More information

- SERIES 5. (If TDS not to be deducted, then form no. 15G / 15H is to be submitted if applicable)

- SERIES 5. (If TDS not to be deducted, then form no. 15G / 15H is to be submitted if applicable) - SERIES 5 (Issue of 40,000 LTDs of Rs. 25000/- each, amounting to Rs. 100 Crs. for a period of 7 Years 5 Months with rate of interst @ 9.50% p.a. payable Quarterly) (Period of Acceptance of LTDs - 01-12-2015

More information

FORM A FORM OF BALANCE-SHEET

FORM A FORM OF BALANCE-SHEET FORM A FORM OF BALANCE-SHEET CAPITAL AND LIABILITIES Rs.P.Rs.P. I. CAPITAL Authorised Capital... Subscribed Capital... (iii) Amount called up On...Shares at Rs...each less called unpaid On...Shares at

More information

APPLICATION FORM FOR MSEs. To be submitted along with documents as per the checklist (For Office Use)

APPLICATION FORM FOR MSEs. To be submitted along with documents as per the checklist (For Office Use) BANK OF MAHARASHTRA APPLICATION FORM FOR MSEs To be submitted along with documents as per the checklist (For Office Use) 1. Name of the Enterprise : 2. Regd. Office : 3. Address of Factory / Shop : 4.

More information

1. Tally the balances in the various elements from the audited accounts

1. Tally the balances in the various elements from the audited accounts Illustrative Audit Checklist for Basel II Audit Procedures Tier I and Tier II Capital 1. Tally the balances in the various elements from the audited accounts 2. Check whether the various instruments comply

More information

SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION

SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION The financial statements have been prepared and presented under historical cost convention on accrual basis of accounting unless

More information

Statutory Audit under CBS Environment

Statutory Audit under CBS Environment Statutory Audit under CBS Environment Arif Ahmed, Partner: Arif Ahmed & Associates LFAR and CBS Cash and Bank Balances. Money at call and Short Notice. Investments. Advances Other assets. Deposits and

More information

STOCK & BOOK DEBTS AUDIT

STOCK & BOOK DEBTS AUDIT STOCK & BOOK DEBTS AUDIT COVERAGE Meaning - Stock and Book Debts Audit Need & Objective of Stock and Book Debts Audit & How to get empanelled for Stock Audit in Banks Frequency, Borrower eligibility &

More information

Customer Service and Deposit Policy

Customer Service and Deposit Policy Customer Service and Deposit Policy United Overseas Bank, India Version 2.0 April 2016 1 VERSION CONTROL LOG Version Date of Implementation/ Revision Updated / Reviewed by Approved By and Approval Date

More information

BANK AUDIT INTRODUCTION

BANK AUDIT INTRODUCTION This chapter is classified into following parts: 1. Introduction 2. Audit of Balance Sheet and Profit and Loss items 3. Long form Audit Report 4. Concurrent Audit 5. Residuary Topics It consists of following

More information

MUNICIPALITY OF HENTIES BAY FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2000. m:\report\1999-00\municipalities\24_hentiesbay_1999-00.

MUNICIPALITY OF HENTIES BAY FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2000. m:\report\1999-00\municipalities\24_hentiesbay_1999-00. MUNICIPALITY OF HENTIES BAY FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2000 m:\report\1999-00\municipalities\24_hentiesbay_1999-00.doc 03/10/05 TO THE HONOURABLAE SPEAKER OF THE NATIONAL ASSEMBLY

More information

1. Vouching of transactions of books of accounts and related documents. 2. To ensure that all statutory requirements are met with schedule.

1. Vouching of transactions of books of accounts and related documents. 2. To ensure that all statutory requirements are met with schedule. SCOPE OF WORK OF INTERNAL AUDITORS (As per some appointment letters issued over the years) SAMPLE- 1: CEMENT CO The Company would like to avail of your services in the area of Management Audit and therefore,

More information

SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION

SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION The financial statements have been prepared and presented under historical cost convention on accrual basis of accounting unless

More information

RESERVE BANK OF INDIA COLLEGE OF AGRICULTURAL BANKING UNIVERSITY ROAD, PUNE COMPROMISE AND SETTLEMENT

RESERVE BANK OF INDIA COLLEGE OF AGRICULTURAL BANKING UNIVERSITY ROAD, PUNE COMPROMISE AND SETTLEMENT RESERVE BANK OF INDIA COLLEGE OF AGRICULTURAL BANKING UNIVERSITY ROAD, PUNE 411 016 COMPROMISE AND SETTLEMENT After introduction of prudential norms the focus has been to reduce the NPAs by all banks.

More information

CIRCULAR. CIR/CFD/CMD/15/2015 November 30, 2015

CIRCULAR. CIR/CFD/CMD/15/2015 November 30, 2015 CIRCULAR CIR/CFD/CMD/15/2015 November 30, 2015 To All Listed Entities All Recognized Stock Exchanges Dear Madam / Sir, Sub.: Formats for publishing financial results 1. In order to enable investors to

More information

ACCOUNTING FOR MANAGERS MBA/DCC 102

ACCOUNTING FOR MANAGERS MBA/DCC 102 Nature and scope of Accounting ACCOUNTING FOR MANAGERS MBA/DCC 102 Accounting may be regarded as an art of recording, classifying and summarizing of money transactions and events Accounting may be regarded

More information

SCHEDULE 17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION

SCHEDULE 17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION SCHEDULE 17 SIGNIFICANT ACCOUNTING POLICIES 1. GENERAL BASIS OF PREPARATION The financial statements have been prepared and presented under historical cost convention on accrual basis of accounting unless

More information

Kotak Mahindra Bank Limited. Deposit Policy

Kotak Mahindra Bank Limited. Deposit Policy Kotak Mahindra Bank Limited Deposit Policy Policy on Bank Deposits PREAMBLE One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors

More information

Project Appraisal. Principles of good lending

Project Appraisal. Principles of good lending Project Appraisal Principles of good lending Safety Liquidity Profitability Spread Purpose End use Need based finance Viability oriented instead of security oriented lending Own stake National priorities

More information

Based on the suggestion received from IBA, our Board has approved the following methodology of Calculation of Drawing Power (DP) under MPBF.

Based on the suggestion received from IBA, our Board has approved the following methodology of Calculation of Drawing Power (DP) under MPBF. MAIN : ADV-138/2014-15 DT. 11-12-2014 a SUB : CONV-26 CO/CREDIT DIVISION FILE M-2 S-205 SUB : Revised method of arriving Drawing Power (DP) and other issues as advised by Indian Banks Association (IBA)

More information

Functions of Liquidity

Functions of Liquidity Functions of Liquidity Liquidity risk arises on account of bank s inability to meet its payment obligations as and when they are demanded. The deposits of banks as liabilities and loans and advances as

More information

UNIVERSITY OF CALICUT SCHOOL OF DISTANCE EDUCATION

UNIVERSITY OF CALICUT SCHOOL OF DISTANCE EDUCATION UNIVERSITY OF CALICUT SCHOOL OF DISTANCE EDUCATION B Com/BBA (2011 Admn. Onwards) II SEMESTER CORE COURSE FINANCIAL ACCOUNTING QUESTION BANK 1) Outstanding expenditure is a account. a) Nominal b) Personnel

More information

Accounting And Finance For Bankers - JAIIB

Accounting And Finance For Bankers - JAIIB Timing: 3 Hours Question : 100 1. Which of the following accounting standards do not match in the context of banking companies accounts: a. AS-21: consolidated statements b. AS-21: Segment reporting c.

More information

Examination Process Lending, Collections and Allowance for Loan Loss Review October 29, 2002

Examination Process Lending, Collections and Allowance for Loan Loss Review October 29, 2002 1 Examination Process Lending, Collections and Allowance for Loan Loss Review October 29, 2002 Loans usually represent the largest asset category and the most time consuming part of the examination process.

More information

CIRCULAR. CIR/CFD/FAC/62/2016 July 05, Sub: Revised Formats for Financial Results and Implementation of Ind-AS by Listed Entities

CIRCULAR. CIR/CFD/FAC/62/2016 July 05, Sub: Revised Formats for Financial Results and Implementation of Ind-AS by Listed Entities CIRCULAR CIR/CFD/FAC/62/2016 July 05, 2016 To All Listed Entities All Recognized Stock Exchanges Dear Sir / Madam, Sub: Revised Formats for Financial Results and Implementation of Ind-AS by Listed Entities

More information

QUESTIONS ON ACCOUNTANCY

QUESTIONS ON ACCOUNTANCY 1. is prepared at the end of the period to show the financial position of business a) P\L account b) Balance sheet c) Trial balance 2. Payment of monthly rent to landlord is a) Economic event b) Non-economic

More information

Paper 5- Financial Accounting

Paper 5- Financial Accounting Paper 5- Financial Accounting Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 5- Financial Accounting Full Marks:100 Time allowed:

More information

Mantas India Private Limited. Directors Report

Mantas India Private Limited. Directors Report Mantas India Private Limited Directors Report Dear Members, Your Directors take pleasure in bringing you the Annual Report of your Company along with the Audited Accounts for the financial year from April

More information

Supervision and Follow-up of Advances

Supervision and Follow-up of Advances Supervision and Follow-up of Advances Jyoti Kumar Pandey Deputy General Manager & Member of Faculty College of Agricultural Banking Reserve Bank of India Pune Credit Life Cycle Theory Credit Opportunity

More information

SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES. 1. General

SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES. 1. General SCHEDULE-17 SIGNIFICANT ACCOUNTING POLICIES 1. General The financial statements are prepared on historical cost basis by following going concern concept and conform to the statutory provisions and practices

More information

JPMorgan Chase Bank, N.A., Mumbai Branch

JPMorgan Chase Bank, N.A., Mumbai Branch JPMorgan Chase Bank, N.A., Mumbai Branch Application form for loan to MSMEs (to be submitted along with documents as per the checklist) Please submit the updated application form along with certified copies

More information

MTP_Final_Syllabus 2012_Dec2016_Set 1 Paper 18: Corporate Financial Reporting

MTP_Final_Syllabus 2012_Dec2016_Set 1 Paper 18: Corporate Financial Reporting Paper 18: Corporate Financial Reporting Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 18 - Corporate Financial Reporting Full

More information

Mantas India Private Limited. Directors Report

Mantas India Private Limited. Directors Report Mantas India Private Limited Directors Report Dear Members, Your Directors take pleasure in bringing you the Annual Report of your Company along with the Audited Accounts for the financial year from April

More information

GUIDANCE NOTE ON AUDIT OF ABRIDGED FINANCIAL STATEMENTS

GUIDANCE NOTE ON AUDIT OF ABRIDGED FINANCIAL STATEMENTS 18 GUIDANCE NOTE ON AUDIT OF ABRIDGED FINANCIAL STATEMENTS Contents Paragraph(s) Preface Introduction...1 Legal Requirements...2-4 Form and Content of Abridged Balance Sheet...5-11 Form and Content of

More information

Index - Section III - MIS Formats

Index - Section III - MIS Formats Section III Management Information System (MIS) MIS Formats Compiled by: Spandane Compiled by Spandane Management Information System Index - Section III - MIS Formats Format No. Para No. 01 3 Daily Production

More information

FOR FINANCE LEASING INSTITUTIONS

FOR FINANCE LEASING INSTITUTIONS OPERATING GUIDELINES FOR FINANCE LEASING INSTITUTIONS BANKING SUPERVISION DEPARTMENT BANK OF SIERRA LEONE FREETOWN JANUARY 2011 Table of Content No. Heading Page 1 Authority 1 2 Definition 1 3 Application

More information

GUIDANCE NOTE ON AUDIT OF DEBTORS, LOANS AND ADVANCES *

GUIDANCE NOTE ON AUDIT OF DEBTORS, LOANS AND ADVANCES * 23 GUIDANCE NOTE ON AUDIT OF DEBTORS, LOANS AND ADVANCES * Contents Paragraph(s) Introduction...3-4 Internal Control Evaluation...5 Verification...6-33 Examination of Records...7-19 Special Considerations

More information

Recent amendments in Schedule VI to the Companies Act, 1956

Recent amendments in Schedule VI to the Companies Act, 1956 Bombay Chartered Accountants Society Recent amendments in Schedule VI to the Companies Act, 1956 CA. P. R. Ramesh 4th May 2011 Agenda History and Applicability. Format. Major Highlights. Comparison with

More information

Large Company Limited. Report and Accounts. 31 December 2009

Large Company Limited. Report and Accounts. 31 December 2009 Registered number 123456 Large Company Limited Report and Accounts 31 December 2009 Report and accounts Contents Page Company information 1 Directors' report 2 Statement of directors' responsibilities

More information

Cash Flow Statements. Contents. Accounting Standard (AS) 3 (revised 1997)

Cash Flow Statements. Contents. Accounting Standard (AS) 3 (revised 1997) 55 Accounting Standard (AS) 3 (revised 1997) Cash Flow Statements Contents OBJECTIVE SCOPE Paragraphs 1-2 BENEFITS OF CASH FLOW INFORMATION 3-4 DEFINITIONS 5-7 Cash and Cash Equivalents 6-7 PRESENTATION

More information

IREDA-NCEF REFINANCE SCHEME REFINANCE SCHEME FOR PROMOTION OF RENEWABLE ENERGY SUPPORTED BY THE NATIONAL CLEAN ENERGY FUND

IREDA-NCEF REFINANCE SCHEME REFINANCE SCHEME FOR PROMOTION OF RENEWABLE ENERGY SUPPORTED BY THE NATIONAL CLEAN ENERGY FUND IREDA-NCEF REFINANCE SCHEME REFINANCE SCHEME FOR PROMOTION OF RENEWABLE ENERGY SUPPORTED BY THE NATIONAL CLEAN ENERGY FUND IREDA NCEF REFINANCE SCHEME REFINANCE SCHEME FOR PROMOTION OF RENEWABLE ENERGY

More information

Notice for Inviting EOI from Chartered Accountants Firms for Conducting Statutory Audit of DRDA, Malkangiri. For the FINANCIAL YEAR -2014-15

Notice for Inviting EOI from Chartered Accountants Firms for Conducting Statutory Audit of DRDA, Malkangiri. For the FINANCIAL YEAR -2014-15 Notice for Inviting EOI from Chartered Accountants Firms for Conducting Statutory Audit of DRDA, Malkangiri For the FINANCIAL YEAR -2014-15 DISTRICT RURAL DEVELOPMENT AGENCY:MALKANGIRI 1 2 DISTRICT RURAL

More information

ALLAHABAD U P GRAMIN BANK HEAD OFFICE : D.M. COLONY CIVIL LINES BANDA

ALLAHABAD U P GRAMIN BANK HEAD OFFICE : D.M. COLONY CIVIL LINES BANDA ALLAHABAD U P GRAMIN BANK HEAD OFFICE : D.M. COLONY CIVIL LINES BANDA INSPECTION DEPARTMENT APPLICATION FOR THE CONCURRENT/REVENUE AUDITORS FOR 2016-17 1. Allahabad U.P. Gramin Bank invites applications

More information

INTERNATIONAL STANDARD ON REVIEW ENGAGEMENTS 2400 ENGAGEMENTS TO REVIEW FINANCIAL STATEMENTS

INTERNATIONAL STANDARD ON REVIEW ENGAGEMENTS 2400 ENGAGEMENTS TO REVIEW FINANCIAL STATEMENTS INTERNATIONAL STANDARD ON REVIEW ENGAGEMENTS 2400 (Previously ISA 910) ENGAGEMENTS TO REVIEW FINANCIAL STATEMENTS (Effective for reviews of financial statements for periods beginning on or after December

More information

Accounting, CPT Chapter 6 CA PRATHAP SS

Accounting, CPT Chapter 6 CA PRATHAP SS Accounting, CPT Chapter 6 CA PRATHAP SS INTRODUCTION Preparation of Final Accounts is the last phase of the Accounting Process. INTRODUCTION The process of accounting starts from Transaction then entered

More information

CUSTOMER COMPENSATION POLICY

CUSTOMER COMPENSATION POLICY CUSTOMER COMPENSATION POLICY 1.1. 1.2. 1.3. 1.4. 1.4.1. 1.4.2. 1.4.3. 1.4.4. This Compensation Policy of the Bank is designed to cover all the incidences where the Bank is liable to make good any financial

More information

(See section 29) Capital (Fully owned by Central Government) II. FOR BANKS INCORPORATED OUTSIDE INDIA. Capital (i)

(See section 29) Capital (Fully owned by Central Government) II. FOR BANKS INCORPORATED OUTSIDE INDIA. Capital (i) 1 THIRD SCHEDULE (See section 29) 2 FORM A FORM OF BALANCE SHEET Balance Sheet of.................................(here enter name of the Banking Company) Balance Sheet as on 31 March....................(Year)

More information

SECRETARIAL AUDIT PRACTICES ANALYSIS OF FINANCIAL STATEMENT & VIOLATIONS OF CORPORATE LAWS

SECRETARIAL AUDIT PRACTICES ANALYSIS OF FINANCIAL STATEMENT & VIOLATIONS OF CORPORATE LAWS SECRETARIAL AUDIT PRACTICES ANALYSIS OF FINANCIAL STATEMENT & VIOLATIONS OF CORPORATE LAWS SECRETARIAL AUDIT IS AN AUDIT TO CHECK COMPLIANCE OF VARIOUS LEGISLATION SEC. 204(1) OF COMPANIES ACT, 2013 READ

More information

AUDIT OF SALES, DEBTORS AND PREPAYMENTS

AUDIT OF SALES, DEBTORS AND PREPAYMENTS AUDIT OF SALES, DEBTORS AND PREPAYMENTS PRESENTED BY AUDIT AND ASSURANCE DEPARTMENT: PEAK PROFESSIONAL SERVICES IN HOUSE SEMINAR SERIES NO 6 PEAK PROFESSIONAL SERVICES (CHARTERED ACCOUNTANTS) NIGERIA A

More information

SAMPLE QUESTION PAPER IN ACCOUNTANCY. Time: Three Hours Maximum Marks: 100

SAMPLE QUESTION PAPER IN ACCOUNTANCY. Time: Three Hours Maximum Marks: 100 SAMPLE QUESTION PAPER IN ACCOUNTANCY Time: Three Hours Maximum Marks: 100 Note: The question paper is divided into two sections A and B. Attempt all questions of Section A and any one question of Section

More information

PAPER 1 : ACCOUNTING

PAPER 1 : ACCOUNTING Question 1 PAPER 1 : ACCOUNTING Answer all questions. Wherever appropriate, suitable assumptions should be made by the candidates. Working notes should form part of the answer. Following incomplete information

More information

Checklist. Guide to buy-back shares of unlisted companies. Vinod Kothari & Company January 4, 2013

Checklist. Guide to buy-back shares of unlisted companies. Vinod Kothari & Company  January 4, 2013 Checklist Guide to buy-back shares of unlisted companies Vinod Kothari & Company nidhiladha@vinodkothari.com aditi@vinodkothari.com January 4, 2013 Check at: http://india-financing.com/staff-publications.html

More information

08/11/2014 WORKSHOP ON TALLY.ERP 9. Workshop on Tally.ERP 9 - CA Jiten Mehta. Experience the Power of TALLY.ERP 9. Topics Covered

08/11/2014 WORKSHOP ON TALLY.ERP 9. Workshop on Tally.ERP 9 - CA Jiten Mehta. Experience the Power of TALLY.ERP 9. Topics Covered WORKSHOP ON TALLY.ERP 9 at Western India Regional Council of ICAI on 08/11/2014 CA Jiten Mehta CA Ankit Sanghavi Experience the Power of TALLY.ERP 9 Topics Covered Advanced Accounting Additional Features

More information

Make The World Wonderful Society Accounting Manual

Make The World Wonderful Society Accounting Manual Make The World Wonderful Society Accounting Manual Purpose of the Manual: INTRODUCTION: The main objective of this manual is to record the procedures and policies practiced over a period and to standardize

More information

NATIONAL INSTITUTE OF OCEAN TECHNOLOGY, CHENNAI

NATIONAL INSTITUTE OF OCEAN TECHNOLOGY, CHENNAI NATIONAL INSTITUTE OF OCEAN TECHNOLOGY, CHENNAI NOTICE INVITING OFFERS FROM CHARTERED ACCOUNTANT FIRMS FOR APPOINTMENT OF STATUTORY AUDITORS OF THE INSTITUTE National Institute of Ocean Technology (NIOT)

More information

41. The company agrees to comply with the following provisions:

41. The company agrees to comply with the following provisions: 41. The company agrees to comply with the following provisions: I) Preparation and Submission of Financial Results a) The financial results filed and published in compliance with this clause shall be prepared

More information

Audited Financial Statements STATE REGULATORY REGISTRY LLC. December 31, 2015

Audited Financial Statements STATE REGULATORY REGISTRY LLC. December 31, 2015 Audited Financial Statements STATE REGULATORY REGISTRY LLC December 31, 2015 Contents Independent Auditor s Report 1 Financial Statements Statements of financial condition 2 Statements of operations and

More information

Centre for Continuing Education Kerala Empanelment of Internal Auditors

Centre for Continuing Education Kerala Empanelment of Internal Auditors Centre for Continuing Education Kerala Charachira, Kowdiar PO., Thiruvananthapuram 695003 Phone/Fax : 0471-2313065,2311654 No. CE/A/2859/14 Dt.23 /1/2015 Empanelment of Internal Auditors Centre for Continuing

More information

Examination Process General Ledger Review October 29, 2002

Examination Process General Ledger Review October 29, 2002 1 Examination Process General Ledger Review October 29, 2002 The review of a credit union s general ledger and its related subsidiary ledgers is a key area of the examination and should give the examiner

More information

FINANCIAL DISCLOSURES FOR THE QUARTER ENDED JUNE 30, 2013

FINANCIAL DISCLOSURES FOR THE QUARTER ENDED JUNE 30, 2013 REGISTRATION NO 104: DATE OF REGISTRATION WITH IRDA : NOVEMBER 15, 2000 FINANCIAL DISCLOSURES FOR THE QUARTER ENDED JUNE 30, 2013 Form No Description Pages L-01 REVENUE ACCOUNT 2-5 L-02 PROFIT & LOSS ACCOUNT

More information

Tiill now you have learnt about the financial

Tiill now you have learnt about the financial Cash Flow Statement 6 LEARNING OBJECTIVES After studying this chapter, you will be able to : State the purpose and preparation of statement of cash flow statement; Distinguish between operating activities,

More information

POST INCORPORATION COMPLIANCES/ACTIVITIES FOR A PRIVATE LIMITED COMPANY (I) COMPLIANCES/ACTIVITIES UNDER COMPANIES ACT, 1956:

POST INCORPORATION COMPLIANCES/ACTIVITIES FOR A PRIVATE LIMITED COMPANY (I) COMPLIANCES/ACTIVITIES UNDER COMPANIES ACT, 1956: POST INCORPORATION COMPLIANCES/ACTIVITIES FOR A PRIVATE LIMITED COMPANY On incorporation, a Private Limited Company is a Separate Legal Entity and has to comply with the provisions of various Laws which

More information

Insurance Broker Guidance Notes

Insurance Broker Guidance Notes Balance Sheet Liabilities 1. Other liabilities include items below: 1.1. Borrowings refers to the amount outstanding including accrued interest in respect of any overdraft arrangements or loans taken by

More information

Bank Guarantees. What does Bank Guarantee mean?

Bank Guarantees. What does Bank Guarantee mean? Bank Guarantees. What does Bank Guarantee mean? A Contract of Guarantee is a contract to perform the promise or discharge of liability of a third person in case of his default. There are three parties

More information

B.A.F. / THIRD YEAR - VITH SEMESTER (REVISED)

B.A.F. / THIRD YEAR - VITH SEMESTER (REVISED) AUDIT (Technique of Auditing & Audit Procedures) 1. Vouching of receipts & Payments a) Receipts Audit of receipts including cash sales, receipts from debtors, recovery of bad debts written off, rents,

More information

UMTSHEZI MUNICIPALITY

UMTSHEZI MUNICIPALITY UMTSHEZI MUNICIPALITY MUNICIPAL LONG TERM BORROWING POLICY Approved on : 26 March 2013 Council Res: 493.03.13 INDEX PAGE NO DEFINITIONS 3 INTRODUCTION AND BACKGROUND 5 SCOPE AND APPLICATION 6 OBJECTIVES

More information

Clarification and Guidelines Manual for Circular 28/2010. (Regulation for Classification of Loans and their Provisions)

Clarification and Guidelines Manual for Circular 28/2010. (Regulation for Classification of Loans and their Provisions) Clarification and Guidelines Manual for Circular 28/2010 (Regulation for Classification of Loans and their Provisions) Clarification and Guidelines Manual for Circular No 28/2010 (Regulation for Classification

More information

STATUTORY INSTRUMENTS 2005 No. 43.

STATUTORY INSTRUMENTS 2005 No. 43. STATUTORY INSTRUMENTS SUPPLEMENT No. 18 27th May, 2005 STATUTORY INSTRUMENTS SUPPLEMENT to The Uganda Gazette No. 28 Volume XCVIII dated 27th May, 2005 Printed by UPPC, Entebbe, by Order of the Government.

More information

WORKING CAPITAL MANAGEMENT

WORKING CAPITAL MANAGEMENT CHAPTER 9 WORKING CAPITAL MANAGEMENT Working capital is the long term fund required to run the day to day operations of the business. The company starts with cash. It buys raw materials, employs staff

More information

Disclosures Under BASEL III Capital Regulations For the quarter ended 31 st December, 2013

Disclosures Under BASEL III Capital Regulations For the quarter ended 31 st December, 2013 Capital Adequacy Disclosures Under BASEL III Capital Regulations For the quarter ended 31 st December, 2013 In accordance with the guidelines of RBI, the Group has adopted standardised approach for credit

More information

Karnataka Bank Ltd. AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED (Rs in Lakhs) Quarter ended (Reviewed)

Karnataka Bank Ltd. AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED (Rs in Lakhs) Quarter ended (Reviewed) 1 Regd. & Head Office P. B. No.599, Mahaveera Circle Kankanady Mangalore 575 002 Karnataka Bank Ltd. Your Family Bank, Across India. Phone : 0824-2228222 Fax: 0824-2225589 E-Mail : accts@ktkbank.com Website

More information

POST-INCORPORATION STATUTORY COMPLIANCES FOR SECTION 25 COMPANIES

POST-INCORPORATION STATUTORY COMPLIANCES FOR SECTION 25 COMPANIES POST-INCORPORATION STATUTORY COMPLIANCES FOR SECTION 25 COMPANIES COMPLIANCES UNDER THE COMPANIES ACT, 1956 Upon incorporation, a company is required to file with the ROC on an annual basis the following:

More information

THE FINANCIAL STATEMENTS OF NAIROBI CITY COUNTY

THE FINANCIAL STATEMENTS OF NAIROBI CITY COUNTY REPUBLIC OF KENYA REPORT OF THE AUDITOR-GENERAL ON THE FINANCIAL STATEMENTS OF NAIROBI CITY COUNTY FOR THE SIXTEEN (16) MONTHS PERIOD ENDED 30 JUNE 2014 REPORT OF THE AUDITOR-GENERAL ON NAIROBI CITY COUNTY

More information

Policy on Joint Lending Arrangement Background

Policy on Joint Lending Arrangement Background Policy on Joint Lending Arrangement Background 1. With a view to introducing flexibility in credit delivery system and to facilitate smooth flow of credit, various regulatory prescriptions regarding conduct

More information