Bank audit
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This document defines various types of banks such as commercial banks, regional rural banks, and development banks. It discusses their basic functions of accepting deposits and lending money. It also outlines the key regulations for bank financial statements and auditing requirements as outlined in the Banking Regulation Act of 1949. Different provisions are applicable for auditing different banks. Non-performing assets are defined as loans that have been classified as substandard, doubtful, or loss based on RBI guidelines. Asset classification and provisioning requirements are also discussed.
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2. Common types of bank advances explained are loans, overdrafts, cash credits, bill discounting, purchasing bills, and letters of credit. Features of each type are provided along with examples.
3. The document also discusses factors considered in lending like the 3 C's of character, capacity and capital of borrowers. It distinguishes between primary and collateral securities taken for secured loans.
15672 npa management
This document discusses the management of non-performing assets (NPAs) in banks. It defines NPAs as loans or advances where interest or principal payments are overdue by 90 days or more. It outlines the classification of assets as standard, sub-standard, doubtful or loss based on delinquency period. The document also discusses provisioning norms required against different asset classifications and factors contributing to rising NPAs. It examines the impact of NPAs on bank operations and various methods used for prevention and resolution of NPAs.
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The Rise and Fall of Ponzi Schemes in America.pptx
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn
Bank of Finland
Press conference on the outlook for the Finnish economy
Helsinki, 11 June 2024
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy Visa
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
Using Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trendsLabour Market Information Council | Conseil de l’information sur le marché du travail
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.International Sustainability Standards Board
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真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
原版定制【微信:bwp0011】《(nwu毕业证书)美国西北大学毕业证学位证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
TechnoXander Confirmation of Payee Product Pack 1.pdf
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
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【网址🎉ac22.net🎉】欧洲杯投注 Sports 与其他博彩公司相比，其独特之处在于欧洲杯投注 Sports 基于低利润和高营业额的独一无二的体育博彩模式，该模式可以为玩家开出最高的赔率。欧洲杯投注的优势在于中文界面友好，接受人民币投注。他们的开户奖金和实时体育投注界面是大陆玩家的首选。
Discover the Future of Dogecoin with Our Comprehensive Guidance
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Economic Risk Factor Update: June 2024 [SlideShare]
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
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What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightnessLabour Market Information Council | Conseil de l’information sur le marché du travail
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
原版一模一样【微信：741003700 】【美国迈阿密大学牛津分校毕业证文凭证书】【微信：741003700 】学位证，留信认证（真实可查，永久存档）offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Independent Study - College of Wooster Research (2023-2024)
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
South Dakota State University degree offer diploma Transcript
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Fabular Frames and the Four Ratio Problem
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
How to Invest in Cryptocurrency for Beginners: A Complete Guide
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
原版定制【微信:bwp0011】《(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
Recently uploaded (20)
The Rise and Fall of Ponzi Schemes in America.pptx
The Rise and Fall of Ponzi Schemes in America.pptx
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
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New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy Visa
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy Visa
Using Online job postings and survey data to understand labour market trends
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TechnoXander Confirmation of Payee Product Pack 1.pdf
TechnoXander Confirmation of Payee Product Pack 1.pdf
Discover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive Guidance
Economic Risk Factor Update: June 2024 [SlideShare]
Economic Risk Factor Update: June 2024 [SlideShare]
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
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What's a worker’s market? Job quality and labour market tightness
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Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)
South Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma Transcript
How to Invest in Cryptocurrency for Beginners: A Complete Guide
How to Invest in Cryptocurrency for Beginners: A Complete Guide
Bank audit
- 2. BANK AN ESTABLISHMENT AUTHORIZED BY A GOVERNMENT TO ACCEPT DEPOSITS, PAY INTEREST, CLEAR CHECKS, MAKES LOANS, ACT AS AN INTERMEDIARY IN FINANCIAL SERVICES TO ITS CUTOMER.
- 3. • ITS BASIC FUNCTION IS ACCEPTING DEPOSITS & LENDING MONEY. COMMERCIAL BANKS • THIS BANK IS BASICALLY FOR THE DEVELOPMENT OF RURAL ECONOMY. RRBs • THEY ARE ESTABLISHED TO PROVIDE TERM FINANCE FOR DEVELOPMENT PURPOSES. DEVELOPMENT BANKS
- 5. BANKING REGULATION ACT, 1949 GIVES PROVISIONS FOR PRESENTATION OF FINANCIAL STATEMENTS OF BANKS. FORM “A” OF THIRD SCHEDULE GIVES FORMAT OF BALANCE SHEET OF THE BANKS FORM “B” GIVES FORMAT OF PROFIT & LOSS A/C OF THE BANK.
- 8. MEANING: IT IS A SYSTEMATIC & INDEPENDENT EXAMINATION OF THE RECORD OF AN ENTERPRISE & TO STATE WETHER THE FINANCIAL POSITION SHOWS A TRUE & FAIR VIEW. AN AUDIT IS DONE ON THE BASIS OF EVIDENTIAL DOCUMENT.
- 10. DIFFERENT PROVISIONS ARE APPLICABLE TO DIFFERENT BANK:
- 12. IT MEANS AUDIT IS CONDUCTED AS CONTINUOUSLY AS TRANSACTION TAKES PLACE. SCOPE : DAILY CASH TRANSACTIONS. PURCHASE & SALES OF SHARES,SECURITIES, ETC. ALL FRAUD PRONE AREA. TREATMENT OF CUSTOMER’S COMPLAINTS.
- 13. DUTIES OF COMPANY AS WELL AS BANKING AUDITOR : 1. MAKE AUDIT REPORT TO MEMBERS U/N 227(2). 2. MAKE ENQUIRY UNDER SECTION 227 (91A). 3. SIGN ANY REPORT AS PER LAW SECTION 229. 4. CERTIFY STATEMENT IN STATUTORY REPORTS AS PER THE PROVISION OF SECTION 165 OF THE COMPANIES ACT. 5. COMPLY WITH CEILING ON NO. OF AUDITS.
- 14. • THE PART OF THE CAPITAL OF A COMPANY THAT COMES FROM THE ISSUE OF SHARES. • SMALL PART OF THE CAPITAL. SHARE CAPITAL • RESERVE MEANS A PROVISION FOR A SPECIFIC PURPOSE. • SURPLUS IS THE CREDIT BALANCE OF THE PROFIT & LOSS ACCOUNT. RESERVE & SURPLUS
- 15. • THE EXTENTION OF MONEY FROM A BANK TO ANOTHER PARTY WITH THE AGREEMENT THAT THE WILL BE REPAID. • ALL BANK LOAN ARE MADE AT INTEREST. ADVANCES • IT IS BANK LOSS. • IT IS BANK LOAN. NPA
- 16. MEANING: IT MEANS LOAN OR AN ACCOUNT OF BORROWER, WHICH HAS BEEN CLASSIFIED BY A BANK OR FINANCIAL INSTITUTION AS SUB- STANDARD, DOUBTFUL OR LOSS ASSET, IN ACCORDANCE WITH THE DIRECTIONS OR GUIDELINES RELATING TO ASSET CLASSIFICATION ISSUED BY RBI.
- 17. 1. STANDARD ASSETS: ARREARS OF INTEREST & THE PRINCIPLE AMOUNT OF LOAN DOES NOT EXCEED 90 DAYS AT THE END OF FINANCIAL YEAR. 2. SUB-STANDARD ASSETS: WHICH HAS REMAINED NPA FOR A PERIOD LESS THAN OR EQUAL TO 12 MONTHS. 3. DOUBTFUL ASSETS: WHICH HAS REMAINED IN THE SUBSTANDARD CATEGORIES FOR A PERIOD OF MORE THAN 12 MONTHS. 4. LOSS ASSETS: LOSS HAS BEEN IDENTIFIED BY THE BANK OR INTERNAL OR EXTERNAL AUDITORS OF THE RBI INSPECTION BUT THE AMOUNT HAS NOT BEEN WRITTEN OFF WHOLLY.
- 18. ASSET QUALIFICATION PROVISION REQUIRED 1) STANDARD ASSET (OVERDUE UP TO 90 DAYS) a) DIRECT ADVANCE TO AGRICULTURE & SME SECTOR: 0.25% b) COMMERCIAL REAL ESTATE SECTOR : 1% c) OTHER ADVANCES: 040% 2) NON-PERFORMING ASSETS: (OVERDUE MORE THAN 90 DAYS) a) SUBSTANDARD (NPA UP TO 12 MONTHS) b) DOUBTFUL(NPA FOR MORE THAN 12 MONTHS) 10% ON SECURED 20% ON UNSECURED SECURED UP TO 1 YEAR 20% 1-3 YEARS 30% ABOVE 3 YEARS 100% UNSECURED 100% 3) LOSS ASSET: 100% PROVISION REQUIRED.
- 19. MEANING: AN AUDIT REPORT IS WRITTEN OPINION OF AN AUDITOR REGARDING AN ENTITY’S FINANCIAL STATEMENTS. TO WHOME HE HAS TO REPORT: AUDITOR MUST REPORT TO THE COMPANY & ITS SHAREHOLDERS.
- 20. STATUTORY REPORT • IT IS COMPULSORY SUBMISSION OF FINANCIAL & NON-FINANCIAL INFORMATION TO GOVERNMENT AGENCY. LFAR REPORT • IT STANDS FOR LONG FORM AUDIT REPORT. • THIS IS ISSUED BY BANK AUDITOR IN ADDITION TO STATUTORY AUDIT REPORT.
Editor's Notes
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