PRE-REQUISITES FOR COMMENCING BANK BRANCH AUDIT

Pre-requisites for Commencing Bank Branch Audit :

The Inspecting Official should possess a Letter of Authority from his Higher Office clearly addressed to the concerned Bank Branch Head stating that Mr./Ms. _______________ has been assigned with the task of conducting the Audit at the Branch.  The Authority Letter should be invariably signed by the Higher Office official/ In-charge. The Letter of Authority should also contain the Name and signature of the Inspecting Official duly attested by the Head of the Department at Higher Office. 

 

Upon receipt of the Letter of Authority, the Inspecting Official should prepare himself / herself about the topography, way to reach out to the concerned Bank Branch.  The visit to the Branch may be kept confidential by the Inspecting Official.  That is, the visit to the Branch for Audit should be surprise. 

 

Commencement of Audit :

After reaching the Bank Branch, the Inspecting Official should have discussion with the Head of the Branch / Official in charge (in the absence of the Bank Branch Head) duly showing his Letter of Authority, about the purpose of his / her visit and seek for a place / desk with adequate infrastructures, stationeries, etc. After settling down in the Branch, the Inspecting Official is required to send a communication to the Head Office about the commencement of Audit at the concerned Bank Branch.

 

Ledgers / Files required for Audit on the day of commencement of Audit :

 

·        Trial Balance as on the Date of Audit      

•   Cash Balance Report (as per system)

·       Jewel Loan Ledger (as per system)

·       Security items Register (if maintained manually or from system)

·       Postage Register

·       Stamps Register (if maintained manually or from system)

•  Key Register
  

·       Account Opening Forms file(s)

·       Staff Attendance File/Register

·       List of Loans and Advances accounts (existing and newly sanctioned during the audit period)

·       Loans and Advances Files

·       Files relating to Non-Performing Asset accounts

·       Stock / Book Debt Statements files

·       Mortgage Register

 ·       Complaints Files

·       Minutes of Customer Service Meetings file

·       Bills Register

·       Last Audit Report file (This should contain last Audit Report, Reply submitted by the Bank Branch and also communication about the status of the last Audit Report).

·       Preventive Vigilance report file (if any conducted during the audit period) and rectification / reply submitted by the Branch thereof.

·       Visit reports of Higher Office officials.

·       Cash Remittance Register

·       ATM Card Register (pending for disposal)

·       Cheque Book Issued Register

·       Office Furniture and Fixtures file (or report from system)