audit of banks
Subject – AUDIT
Topic – AUDIT OF BANKS.
Name – Arwa Khambati Roll no. – 29
College Name – Sydnehem College of Commerce and Economics Seat Number -
Certificate of Completion
Date: 19/10/2013
This is to certify that Ms. Arwa Khambati (Roll No. 29) a student of Master of Commerce (Part 2), Sydenham College of Commerce and Economics, has undergone Project work on titled AUDIT OF BANKS.
19/10/2013
Mumbai
Declaration
This is to certify that I, Arwa Riyaz Khambati, Roll no. 29 student of Master of Commerce Part 2 from Sydehem College of Commerce and Economics have done the following project work under the Internal Supervision of Prof. Ashok Mehta for completion of Audit project for Semester 3.
Regards.
INDEX
Sr. no.
Topics
Pg.no.
1
Executive Summary
5
2
Introduction
6
3
Basic Principals of Auditing
7
4
Audit Committee
9
5
Internal Control
10
6
Stages in Auditing
15
7
Books of Accounts of Banks
19
8
Verification of Liabilities
20
9
Verification of Assets
26
10
Types of Audits
31
11
Conclusion
32
12
Bibliography
33
EXECUTIVE SUMMERY
A banking companies are requires maintaining the books of account in accordance with section 209 of the companies act, 1956. Banking generally a sound internal control system their day to day transaction. The auditor has to evaluate such system carefully. The fundamental requirement of an audit, as regards reporting on statement of account can be discharged from the examination of the internal checked and verification of assets and liabilities by making a comparison and reconciliation of balance with those in the year and that of amount of income and expenses by application of test checks.
The banking regulation act casts greater responsibilities on the directors of
Topic – AUDIT OF BANKS.
Name – Arwa Khambati Roll no. – 29
College Name – Sydnehem College of Commerce and Economics Seat Number -
Certificate of Completion
Date: 19/10/2013
This is to certify that Ms. Arwa Khambati (Roll No. 29) a student of Master of Commerce (Part 2), Sydenham College of Commerce and Economics, has undergone Project work on titled AUDIT OF BANKS.
19/10/2013
Mumbai
Declaration
This is to certify that I, Arwa Riyaz Khambati, Roll no. 29 student of Master of Commerce Part 2 from Sydehem College of Commerce and Economics have done the following project work under the Internal Supervision of Prof. Ashok Mehta for completion of Audit project for Semester 3.
Regards.
INDEX
Sr. no.
Topics
Pg.no.
1
Executive Summary
5
2
Introduction
6
3
Basic Principals of Auditing
7
4
Audit Committee
9
5
Internal Control
10
6
Stages in Auditing
15
7
Books of Accounts of Banks
19
8
Verification of Liabilities
20
9
Verification of Assets
26
10
Types of Audits
31
11
Conclusion
32
12
Bibliography
33
EXECUTIVE SUMMERY
A banking companies are requires maintaining the books of account in accordance with section 209 of the companies act, 1956. Banking generally a sound internal control system their day to day transaction. The auditor has to evaluate such system carefully. The fundamental requirement of an audit, as regards reporting on statement of account can be discharged from the examination of the internal checked and verification of assets and liabilities by making a comparison and reconciliation of balance with those in the year and that of amount of income and expenses by application of test checks.
The banking regulation act casts greater responsibilities on the directors of