Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Banks Features
(a) Profit and loss account: When looking at a bank's profit and loss account the accountant should seek to discover what proportions of the bank's profits are derived from sustainable business and how much comes from sources of income that are speculative or uncertain. The three major sources of income that require examination are: the net interest between lending and borrowing, dealing profits derived from the banks investments portfolio and fees and commissions.
(b) Current status: Although he may be auditing a prior period the auditor should discuss with the management any current problems to discover whether profits are still being made in the current trading period.
(c) Review of projected profits: Enquiries should be made to ascertain whether projected profits take into account suspended interest, bad debts provision and any other decline in the realisable value of assets.
(d) Frequency of reviews: The auditor should enquire whether provisions are being reviewed on a regular basis.
(e) Further enquiries: Further enquiries are made in the following areas: investments, certificates of deposits, foreign exchange, land and property and loans. The fee earning activities of the bank are also investigated in the areas of loan commitment, acceptances, portfolio management and corporate advisory work.
How to involve people in audit? Ans) Use audits as opportunities to train others. Ask for a volunteer (who is not an auditor) to walk by the audit process with you as an assista
audit procedures in business combination conserning Goodwill
Auditor's Duty - Audit Process The auditor has a responsibility to express a thought on the truth and fairness and compliance along with legislation, of the accounts. The valu
Types of audits So far we have tended to think in terms of the audit of limited companies, and indeed, the emphasis throughout this text will be on such companies incorporated
Bank - Cash and Bank Balances The major concern in this area is to establish the existence of the balances and more currently due to failures in some financial institutions in
Mr. Howe, a Junior Partner of the CPA firm Dewey, Cheatem, & Howe (DCH), after noting that there is a proposal to limit Auditor liability is very excited and has announced that th
Going Concern Considerations - Audit Process IAS 1 Presentation of Financial Statements knows the going related assumption as one of the fundamental assumptions that underlie
10+22=
Distinguish between early and modern audits
list and explain four factors that influence the auditor''s judgement regarding the sufficiency if the evidence obtain
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd