Bank Audit

What are Candlesticks? Candlesticks are the Patten drawn in a Technical Chart used in the Share markets to assess the trend of Prices of a stock.  This will enable the user to assess the way prices are used along with some other indicators like Volume Weighted Average Price (VWAP)or Stochastic RSI indicator and/or Moving Average (Simple or […]

Know Your Customer (KYC) Introduction Banking in India has reached even to the outfit of Rural areas with wide campaigns by Banks and the Government.  With the expansion in the Bank network, which involves the accumulation and distribution of lakhs of crores of rupees by way of Deposits and Loans, it is very much essential that

Information System Audit (IS Audit) Introduction In the present context, Information System Audit is very much warranted, because the entire Banking Industry totally relies upon Information Technology, which is otherwise considered to be its backbone.   On the one hand, it involved a huge expenditure on the Banks in the initial stages like building necessary software, and

Auditing Other Banking Operations – Branch Administration Audit: Auditing the Administrative aspects of the Branch is of utmost importance, which ensures the security and safety of the Staff, Customers, and their interests.  Therefore, the following verification should be made by the Auditing Official during the Internal Audit procedure: The Auditor should verify – 1. Registers

  Auditing Customer Service in a Bank Branch Customer Service Plays a major role in any Industry, whether it is manufacturing trading, or service sector.  The way in which a customer gets attention in a business reflects the health of the business of an establishment.  A customer is a brand ambassador for the promotion of

Auditing Non-Performing Assets (NPA) Portfolio Auditing the Non-Performing Assets of a Bank/Branch is gaining serious attention in the Banking Industry.  Given the Lockdown in the Global scenario in general and in India in particular, most of the borrowers are not in a position to honor their commitment to repayment schedule.  This has forced the Banks

Auditing Deposit Portfolio – Bank Branch The Most vital part of Inspection involves the Auditing of Deposits, Advances (Credit), and Non-Performing Assets categories of a Bank/Branch.  In this Post, I shall give you a few guidelines to be followed for auditing of Deposit Portfolio of the Branch. Know Your Customer (KYC) for Deposit Portfolio: Verify

MANAGEMENT AUDIT IN BANKS   Management Audit in Banks, one of the vital portfolios of the Audit and Inspection Department, is conducted annually to arrive at the health of the Circle, Region, or Zone, as per the terminology adopted by the concerned Bank in India.   Management audit involves going through the Books of Accounts of

After completing the first step of Cash verification and Jewel Loan portfolio verification, the Inspecting Officer has to carry out the following tasks : Controls and Audit Check whether the Branch Head or the Authorised Officer has been checking the debits made to Income Heads of the Bank, whether manually or by the System.  This has