{"id":6056,"date":"2023-07-10T16:20:11","date_gmt":"2023-07-10T16:20:11","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=6056"},"modified":"2023-07-10T16:39:43","modified_gmt":"2023-07-10T16:39:43","slug":"bank-audit-check-list-procedure","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/","title":{"rendered":"Bank Audit Check List &#038; Procedure"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-6059\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/07\/Bank-Audit-Check-List-Procedure..jpg\" alt=\"Bank Audit Check List &amp; Procedure.\" width=\"973\" height=\"417\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/07\/Bank-Audit-Check-List-Procedure..jpg 343w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/07\/Bank-Audit-Check-List-Procedure.-300x129.jpg 300w\" sizes=\"(max-width: 973px) 100vw, 973px\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f4e134abef7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f4e134abef7\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#The_Bank_Audit_Check_List_Procedure\" title=\"The Bank Audit Check List &amp; Procedure.\">The Bank Audit Check List &amp; Procedure.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Details_related_Bank_Audit_Check_List\" title=\"Details related\u00a0Bank Audit Check List\u00a0\">Details related\u00a0Bank Audit Check List\u00a0<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Point_Related_to_Documents_Verification\" title=\"Point Related to Documents Verification \">Point Related to Documents Verification <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Point_Related_to_Credit_Audit\" title=\"Point Related to Credit Audit \">Point Related to Credit Audit <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Point_Related_to_Debtors_Verification\" title=\"Point Related to Debtors Verification\">Point Related to Debtors Verification<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Point_Related_to_Stock_Verification\" title=\"Point Related to Stock Verification\">Point Related to Stock Verification<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Point_Related_to_Bank_Statement_verification\" title=\"Point Related to Bank Statement verification\">Point Related to Bank Statement verification<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Point_Related_to_Debtors_Verification-2\" title=\"Point Related to Debtors Verification \">Point Related to Debtors Verification <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Point_Related_to_creditors_Verification\" title=\"Point Related to creditors Verification \">Point Related to creditors Verification <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.caindelhiindia.com\/blog\/bank-audit-check-list-procedure\/#Other_Verification_Point\" title=\"Other Verification Point\">Other Verification Point<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Bank_Audit_Check_List_Procedure\"><\/span><span style=\"color: #000080;\"><strong>The Bank Audit Check List &amp; Procedure<\/strong><\/span>.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-6062\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/07\/Stock-audit-Report-Key-Points-To-Be-Considered.png\" alt=\"Stock audit Report Key Points To Be Considered\" width=\"989\" height=\"540\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/07\/Stock-audit-Report-Key-Points-To-Be-Considered.png 304w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/07\/Stock-audit-Report-Key-Points-To-Be-Considered-300x164.png 300w\" sizes=\"(max-width: 989px) 100vw, 989px\" \/><\/p>\n<table style=\"height: 8282px;\" width=\"931\">\n<tbody>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h2><span class=\"ez-toc-section\" id=\"Details_related_Bank_Audit_Check_List\"><\/span><span style=\"color: #000080;\"><strong>De<\/strong><\/span><span style=\"color: #000080;\"><strong>tails rela<\/strong><\/span><span style=\"color: #000080;\"><strong>t<\/strong><\/span><span style=\"color: #000080;\"><strong>ed\u00a0<\/strong><\/span><span style=\"color: #000080;\"><strong>Bank Audit Check List\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h3><span class=\"ez-toc-section\" id=\"Point_Related_to_Documents_Verification\"><\/span><span style=\"color: #000080;\"><strong>Point Related to Documents Verification <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><strong>Sl No.<\/strong><\/td>\n<td width=\"467\"><strong>Particulars<\/strong><\/td>\n<td width=\"43\"><strong>Yes\/No<\/strong><\/td>\n<td width=\"51\"><strong>Check By<\/strong><\/td>\n<td width=\"71\"><strong>Reviewed by<\/strong><\/td>\n<td width=\"47\"><strong>Remarks<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">1<\/td>\n<td width=\"467\">Latest sanction letter of the bank providing facilities<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">2<\/td>\n<td width=\"467\">Latest stock statement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">3<\/td>\n<td width=\"467\">Stock statements for the months covering audit period including stock statements certified by Chartered Accountant<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">4<\/td>\n<td width=\"467\">Stock statement for the month of March of preceding previous year<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">5<\/td>\n<td width=\"467\">Audited Financial Statements for 2 previous years<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">6<\/td>\n<td width=\"467\">Tax Audit Report for 2 previous years<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">7<\/td>\n<td width=\"467\">Bank statement of all the banks for the audit period<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">8<\/td>\n<td width=\"467\">Books of Accounts for the audit period (Debtors, Creditors and stock from their accounting software, say \u201cTally\u201d)<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">9<\/td>\n<td width=\"467\">Stock register<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">10<\/td>\n<td width=\"467\">GST returns for audit months covering audit period. (GSTR-1,3B, 9)<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">11<\/td>\n<td width=\"467\">Insurance documents (effective in the audit period)<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">12<\/td>\n<td width=\"467\">Challans of statutory compliances for the months covering audit period (Income tax, EPF, ESIC, TDS)<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">13<\/td>\n<td width=\"467\">Trial Balance as on 31<sup>st<\/sup> March of previous year<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">14<\/td>\n<td width=\"467\">Trial Balance or Provisional Balance Sheet as on the date of inspection<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">15<\/td>\n<td width=\"467\">Eight invoices of good amount each of purchases and sales along with e-way bill. In case of import, take Bill of Entry<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><\/td>\n<td width=\"467\"><\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h3><span class=\"ez-toc-section\" id=\"Point_Related_to_Credit_Audit\"><\/span><span style=\"color: #000080;\"><strong>Point Related to Credit Audit <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><strong>Sl No.<\/strong><\/td>\n<td width=\"467\"><strong>Particulars<\/strong><\/td>\n<td width=\"43\"><strong>Yes\/No<\/strong><\/td>\n<td width=\"51\"><strong>Check By<\/strong><\/td>\n<td width=\"71\"><strong>Reviewed by<\/strong><\/td>\n<td width=\"47\"><strong>Remarks<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">1<\/td>\n<td width=\"467\">All fresh proposals and proposals for renewal of limits (within 3 &#8211; 6 months from date of sanction)<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">2<\/td>\n<td width=\"467\">All existing accounts with sanction limits equal to or above a cut off depending upon the size of activity<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">3<\/td>\n<td width=\"467\">Valuation of Collateral Security must not be older than 3 years<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">4<\/td>\n<td width=\"467\">Purpose of the Loan taken and End use of the same<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">5<\/td>\n<td width=\"467\">Check Positions of Account of facility availed by the Borrower on the date of Credit Audit<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">6<\/td>\n<td width=\"467\">Inspection is being carried out by Branch on Interval basis<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">7<\/td>\n<td width=\"467\">Whether LSR certifies the mortgaged properties are free from all encumbrances.<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">8<\/td>\n<td width=\"467\">Check whether Security is underinsured or not?<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">9<\/td>\n<td width=\"467\">Asset Classification of the account of facility availed by the Borrower.<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">10<\/td>\n<td width=\"467\">Check Facilities sanctioned by the Branch to Group Companies\/ Associates and irregularity observed in the same<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">11<\/td>\n<td width=\"467\">Latest Sanction\/ Latest Renewal Documents ar complete\u00a0 in Banking records<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">12<\/td>\n<td width=\"467\">Check whether Charge has been Created or modified with ROC for the facility availed<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">13<\/td>\n<td width=\"467\">Check Whether Cersai on the Immovable property has been created<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><\/td>\n<td width=\"467\"><\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h3><span class=\"ez-toc-section\" id=\"Point_Related_to_Debtors_Verification\"><\/span><span style=\"color: #000080;\">Point Related to Debtors Verification<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><strong>Sl No.<\/strong><\/td>\n<td width=\"467\"><strong>Particulars<\/strong><\/td>\n<td width=\"43\"><strong>Yes\/No<\/strong><\/td>\n<td width=\"51\"><strong>Check By<\/strong><\/td>\n<td width=\"71\"><strong>Reviewed by<\/strong><\/td>\n<td width=\"47\"><strong>Remarks<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">1<\/td>\n<td width=\"467\">Go through the sanction letter<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">2<\/td>\n<td width=\"467\">Go through latest stock statement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">3<\/td>\n<td width=\"467\">Ask for the latest stock statement on the date of visit<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">4<\/td>\n<td width=\"467\">Method of procurement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">5<\/td>\n<td width=\"467\">Maintenance of records<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">6<\/td>\n<td width=\"467\">Policy for issue of stock from stores<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">7<\/td>\n<td width=\"467\">Method of valuation of stock<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">8<\/td>\n<td width=\"467\">Maintenance of QIS &amp; Fund Flow statement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">9<\/td>\n<td width=\"467\">Procedure in respect of Rejected goods<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">10<\/td>\n<td width=\"467\">Frequency of physical inspection of goods by borrower<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">11<\/td>\n<td width=\"467\">Bin card system adopted<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">12<\/td>\n<td width=\"467\">Goods sent for Job Processing<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">13<\/td>\n<td width=\"467\">Goods received for Job Processing<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">14<\/td>\n<td width=\"467\">If yes, it is shown separately &amp; not included in stock statement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">15<\/td>\n<td width=\"467\">Stock-In and Out register maintained &amp; checked<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">16<\/td>\n<td width=\"467\">Security guards available at location<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">17<\/td>\n<td width=\"467\">CCTV camers put in place<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">18<\/td>\n<td width=\"467\">Fire extinguishers put in place<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">19<\/td>\n<td width=\"467\">ABC analysis done for the stock<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">20<\/td>\n<td width=\"467\">Physical stock tallied with stock statement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">21<\/td>\n<td width=\"467\">Check the condition and location of storage<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">22<\/td>\n<td width=\"467\">Verified the insurance documents and its adequacy<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><\/td>\n<td width=\"467\"><\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h3><span class=\"ez-toc-section\" id=\"Point_Related_to_Stock_Verification\"><\/span><span style=\"color: #000080;\">Point Related to Stock Verification<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><strong>Sl No.<\/strong><\/td>\n<td width=\"467\"><strong>Particulars<\/strong><\/td>\n<td width=\"43\"><strong>Yes\/No<\/strong><\/td>\n<td width=\"51\"><strong>Check By<\/strong><\/td>\n<td width=\"71\"><strong>Reviewed by<\/strong><\/td>\n<td width=\"47\"><strong>Remarks<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">1<\/td>\n<td width=\"467\">Compare the values of Stock as on 31st of march of previous year with corresponding date in stock statement.<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">2<\/td>\n<td width=\"467\">Compare the values of Debtors as on 31st of march of previous year with corresponding date in stock statement.<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">3<\/td>\n<td width=\"467\">Compare the values of Creditors as on 31st of march of previous year with corresponding date in stock statement.<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">4<\/td>\n<td width=\"467\">Report the related parties transaction<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">5<\/td>\n<td width=\"467\">Compare the value of stock reported in Tax audit report with the stock statement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">6<\/td>\n<td width=\"467\">Check other irregularities in Statutory Audit report<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">7<\/td>\n<td width=\"467\">Check other irregularities in Tax Audit report<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><\/td>\n<td width=\"467\"><\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h3><span class=\"ez-toc-section\" id=\"Point_Related_to_Bank_Statement_verification\"><\/span><span style=\"color: #000080;\"><strong>Point Related to Bank Statement verification<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><strong>Sl No.<\/strong><\/td>\n<td width=\"467\"><strong>Particulars<\/strong><\/td>\n<td width=\"43\"><strong>Yes\/No<\/strong><\/td>\n<td width=\"51\"><strong>Check By<\/strong><\/td>\n<td width=\"71\"><strong>Reviewed by<\/strong><\/td>\n<td width=\"47\"><strong>Remarks<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">1<\/td>\n<td width=\"467\">All the payment for purchases and direct expenses are made fro CC account<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">2<\/td>\n<td width=\"467\">All the receipts from debtors are received to CC account<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">3<\/td>\n<td width=\"467\">Loan outstanding amount more than sanctioned limits on any day<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">4<\/td>\n<td width=\"467\">Whether the borrower is not utilizing his sanctioned limits<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><\/td>\n<td width=\"467\"><\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h3><span class=\"ez-toc-section\" id=\"Point_Related_to_Debtors_Verification-2\"><\/span><span style=\"color: #000080;\"><strong>Point Related to Debtors Verification <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><strong>Sl No.<\/strong><\/td>\n<td width=\"467\"><strong>Particulars<\/strong><\/td>\n<td width=\"43\"><strong>Yes\/No<\/strong><\/td>\n<td width=\"51\"><strong>Check By<\/strong><\/td>\n<td width=\"71\"><strong>Reviewed by<\/strong><\/td>\n<td width=\"47\"><strong>Remarks<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">1<\/td>\n<td width=\"467\">Check the age of debtors sanction by Bank in sanction letter<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">2<\/td>\n<td width=\"467\">Check the value of debtors last reported in stock statement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">3<\/td>\n<td width=\"467\">Verified the sales with GST returns and books of accounts<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">4<\/td>\n<td width=\"467\">Calculate the age of debtors<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">5<\/td>\n<td width=\"467\">Check the transaction with related parties<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">6<\/td>\n<td width=\"467\">Check whether to include or exclude related party sales as per sanction letter<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">7<\/td>\n<td width=\"467\">Provision has been made for doubtful debts<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">8<\/td>\n<td width=\"467\">Confirm with the borrower about the bad debts and doubtful debts<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">9<\/td>\n<td width=\"467\">Verify the sales made to debtors with invoices<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">10<\/td>\n<td width=\"467\">Verify the sales made to debtors with books of accounts<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">11<\/td>\n<td width=\"467\">Verify the sale proceeds are received from debtors to the bank accounts<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">12<\/td>\n<td width=\"467\">Verify the sale proceeds are received to the CC Account<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">13<\/td>\n<td width=\"467\">Verify if sale proceeds are routed through other bank accounts<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">14<\/td>\n<td width=\"467\">Check carefully cash sales (if any)<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">15<\/td>\n<td width=\"467\">Check GSTIN of Top 10 debtors of Borrower<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><\/td>\n<td width=\"467\"><\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h3><span class=\"ez-toc-section\" id=\"Point_Related_to_creditors_Verification\"><\/span><span style=\"color: #000080;\"><strong>Point Related to creditors Verification <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><strong>Sl No.<\/strong><\/td>\n<td width=\"467\"><strong>Particulars<\/strong><\/td>\n<td width=\"43\"><strong>Yes\/No<\/strong><\/td>\n<td width=\"51\"><strong>Check By<\/strong><\/td>\n<td width=\"71\"><strong>Reviewed by<\/strong><\/td>\n<td width=\"47\"><strong>Remarks<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">1<\/td>\n<td width=\"467\">Verify the value of creditors with books of account and stock statement<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">2<\/td>\n<td width=\"467\">Verify purchase with GST returns<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">3<\/td>\n<td width=\"467\">Verify all the Cash purchases (if any)<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">4<\/td>\n<td width=\"467\">Only Creditor for the purchase of stock and direct expense should be consider for value of paid stock<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">5<\/td>\n<td width=\"467\">Payment to creditors are made from CC bank account<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">6<\/td>\n<td width=\"467\">Verify purchase made to creditor with invoices<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">7<\/td>\n<td width=\"467\">Verify purchase made to creditor with books of accounts<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">8<\/td>\n<td width=\"467\">Verify GSTIN of top 10 creditors<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><\/td>\n<td width=\"467\"><\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"509\">\n<h3><span class=\"ez-toc-section\" id=\"Other_Verification_Point\"><\/span><span style=\"color: #000080;\"><strong>Other Verification Point<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\"><strong>Sl No.<\/strong><\/td>\n<td width=\"467\"><strong>Particulars<\/strong><\/td>\n<td width=\"43\"><strong>Yes\/No<\/strong><\/td>\n<td width=\"51\"><strong>Check By<\/strong><\/td>\n<td width=\"71\"><strong>Reviewed by<\/strong><\/td>\n<td width=\"47\"><strong>Remarks<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">1<\/td>\n<td width=\"467\">Took pictures of stock verified with GPS Map Camera<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">2<\/td>\n<td width=\"467\">Took pictures of any irregularity observed<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">3<\/td>\n<td width=\"467\">Whether Bank&#8217;s Hypothecation Board is displayed at borrower&#8217;s location or not<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">4<\/td>\n<td width=\"467\">Took picture of the hypothecation borad (if displayed)<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<tr>\n<td width=\"43\">5<\/td>\n<td width=\"467\">Took all the necessary evidences<\/td>\n<td width=\"43\"><\/td>\n<td width=\"51\"><\/td>\n<td width=\"71\"><\/td>\n<td width=\"47\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The Bank Audit Check List &amp; Procedure. Details related\u00a0Bank Audit Check List\u00a0 Point Related to Documents Verification Sl No. Particulars Yes\/No Check By Reviewed by Remarks 1 Latest sanction letter of the bank providing facilities 2 Latest stock statement 3 Stock statements for the months covering audit period including stock statements certified by Chartered Accountant &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[98],"tags":[1025],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6056"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=6056"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6056\/revisions"}],"predecessor-version":[{"id":6064,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6056\/revisions\/6064"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=6056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=6056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=6056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}