Deposits and share - building society, Auditing

Deposits and Share - Building Society

Shares may make of subscription shares and paid up shares. Interest on shares might be credited to ensure specific control to the accounts instead of to be paid the following should be covered through the system:

  • There should be specific custody of unused deposit and share pass book, receipt forms and share certificates;
  • There have to be specific instructions to the staff as to the creating of entries in the pass books and the issue of receipts;
  • Withdrawal notice and terms and specimen signatures;
  • Authorization of withdrawals through the ledger department or against the pass books;
  • Records of marriages, deaths, powers of transmission and attorney of deposits and shares;
  • The comparison of the balance exposed in the pass book along with that shown in the ledger.
Posted Date: 1/28/2013 4:15:27 AM | Location : United States

Related Discussions:- Deposits and share - building society, Assignment Help, Ask Question on Deposits and share - building society, Get Answer, Expert's Help, Deposits and share - building society Discussions

Write discussion on Deposits and share - building society
Your posts are moderated
Related Questions
State four factors considered determining sufficiency of audit evidence

Long Term Contracts - Audit Process The authoritative document with reference to long term contracts is IAS 11: Construction Contracts and IAS 18: Revenue Recognition, and ISA

Fitri, a sole proprietor in pulic practice, plans to establish a separate department that will provide internal audit service to his audit clients.

Pension Funds Pension funds are set up by companies or other organizations: (a) To administer the pension payable to retired employees and (b) Ensure that funds are available

Attempts to define True and Fair It must be concluded that there has been slight attempt precisely to define fair and true. The Companies Act needs an auditor to report in

Insurance Companies Authoritative documents involved as: The Insurance Act The Companies Act IFRS 4 Insurance Contracts The major legislation governing insu

what is the impact of judgemental sampling on the quality of a financial report

Capital allowances vs. Depreciation Whether the client can prove such they will keep the existing levels of investment in original terms, then there may be justification to ac

Q. Corporations generally issue stock dividends in order to a. increase the market price per share. b. exceed stockholders' dividend expectations. c. increase the marketability of