Financial institutions and banks - audit situations, Auditing

Assignment Help:

Financial Institutions and Banks - Audit Situations

Financial Institutions

Because of the recent collapse of many financial institutions, this is still a heavily regulated region.  The building societies and financial institutions and banks are still subject to close supervision through the Central Bank of US and insurance companies are subject to strict control through the Commissioner of Insurance.

Banks

The Authoritative documents are as:

  • The Central Bank of US Act,
  • The Companies Act Cap 486
  • IAS 30 Disclosure in the Financial statements and Similar financial Institutions of Banks
  • IAPS 1000 Inter-bank confirmations process
  • IAPS 1004 The Relationship among Supervisors of Banks and Banks External Auditors
  • IAPS 1006 Audits of the Financial statements of Banks

Related Discussions:- Financial institutions and banks - audit situations

GOODWILL in group, audit procedures in business combination conserning Good...

audit procedures in business combination conserning Goodwill

Business risk approach, Business Risk Approach This approach requires t...

Business Risk Approach This approach requires the auditor to determine what are the very important business risks which the client faces. This line of approach both helps the c

Individual assignment, The following situations may or may not breach the e...

The following situations may or may not breach the ethical requirements of APES 110. You need to state whether they are or are not a breach of the ethical requirements of APES110 a

Audit risk, AUDIT RISK As we have seen many parties rely on the audit o...

AUDIT RISK As we have seen many parties rely on the audit opinion to make decisions, and therefore it is now a well established fact that if the auditor gives an audit opinion

Beneficial ownership or title, Beneficial Ownership or Title In Januar...

Beneficial Ownership or Title In January 1976 the famous case of Aluminium Industries vaassen B V v. Romalpa Aluminium Ltd radically altered the law along with regard to norma

Advantages and disadvantages of a continuous audit, Advantages and Disadvan...

Advantages and Disadvantages of a Continuous Audit Advantages: The regular or continual attendance of the auditor might act as a deterrent to scam; Weaknesses in the

Fairness - auditing, Fairness -  Auditing The word fair can have the ...

Fairness -  Auditing The word fair can have the following meanings:  on the other hand clear, plain and distinct and on the one impartial, equitable and simple.  When fair is

Share and deposits, Share and deposits Shares may consist of subscripti...

Share and deposits Shares may consist of subscription shares and paid up shares. Interest on shares might be credited to the accounts rather than being paid to ensure proper co

Indications of inapplicability of going concern, Indications of inapplicabi...

Indications of inapplicability of Going Concern Unfortunately, Insolvency is a development industry as the economy suffers a down turn and consequently for a majority of enter

Work related health problems, Work Related Health Problems The health ...

Work Related Health Problems The health of a person working on a specific job in a particular environment may be affected by both. It is valuable to have a clear understanding

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd