Common Mistakes in Bank Branch Statutory Audit | Bank Branch Audit - Common Mistakes

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Common Mistakes in Bank Branch Statutory Audit | Bank Branch Audit - Common Mistakes discussed by CA. Vivek Khurana.
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RBI Circulars on IRAC Norms :- (Oct 2021, Nov 2021, February 2022)
October 1, 2021 - Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances.
www.rbi.org.in...
November 12, 2021 - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances - Clarifications
www.rbi.org.in...
February 15, 2022 :- Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances - Clarifications
www.rbi.org.in...
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Bank Audit for First Timers
RBI latest Guidelines on Bank Branch Audit
Bank Audit 2022,
NPA Identification,
Bank Statutory Audit 2022,
Bank Branch Audit 2022,
Bank Branch Statutory Audit 2022,
NPA Classification,
Income Recognistion,
Categories of NPAs,
Practical Guide for Statutory Bank Branch Audit for the First Timers,
How to do Bank Branch Audit,
Common Mistakes in Bank Branch Audit
Bank Branch Audit for First Time,
How to check NPA in Bank Branch Audit,
How to check advances in Bank Audit,
Bank Branch Audit Updates,
Checklist for Statutory Audit of Bank Branch Audit,
Updates on Bank Branch Audit,
Mistakes Related to Appointment Formalities
Statutory Audit of Banks,
Categories of NPAs,
Bank Branch Audit Updates,
Communication / NOC to Previous Auditor of the Branch.
Classification Norms - ASSET CLASSIFICATION,
Guidelines for classification of assets,
Audit of Advances,
Audit of Deposits,
Verification / Audit of Advances,
Classification of Advances,
Date of NPA is very Important,
Identification of NPAs - Important Points,
Asset Classification to be borrower-wise and not facility-wise.
Availability of security / net worth of borrower / guarantor.
Identification of NPAs - Non-Financial Parameters,
IRAC Norms,
Identification of NPAs - IRAC Norms,
Income Recognistion, Assets Classification and Provisioning pertaining to Advances,
RBI Master Circulars on IRAC Norms,
Criteria for identification of Advance as Non Performing.
Audit of other items in Balance Sheet,
Audit / Verification of other items in Balance Sheet of Bank,
Audit / Verify of Income & Expenditure,
Comparison of Assets Classification from Last Year.
Automation of Income Recognition, Asset Classification and Provisioning processes in banks.
Accounts regularised near about the balance sheet date,
Audit Report & MOC,
Audit Report as per format prescribed by ICAI,
Independent Audit Report & MOC is also Part of Audit Report,
Upgradation of loan accounts classified as NPAs.
UDIN by ICAI for Bank Branch Audit,
Post Bank Branch Audit.
Inherent weakness basis.
Erosion in value of security and frauds,
Audit Documentation.
Certificate of Contingent Liabilities,
Certificates for IRAC Status of Credit Exposure etc,
Provisions and contingencies,
plan the audit procedures,
Engagement Letters to each of the branch,
Debit Balances in Current Accounts / Saving Accounts,
Compare list of NPA with Last Year,
RBI Master Circulars on IRAC Norms,
Up gradation of NPA Accounts ,
Inoperative accounts & Dormant accounts,
Reconciliation statement of all banks account,
Physical verification report of branch fixed assets if conducted during the year,
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