CA Sansaar
Banks Audit - Revenue Leakage / Income Leakage in Banks
PrintConcept of Revenue Leakage in Bank's Audit :-
One of the most important aspects of a bank audit is revenue leakage.
One of the most important aspects of a bank audit is revenue leakage.
In some banks, it is conducted separately while some consider it as a part of Concurrent Audit or Statutory Audit or Internal Audit.
The revenue leakages could have two limbs, one under booking of income and the second overbooking of expenses.
It does not mean that the auditor should ignore the overbooking of income or under booking of expenses. In fact the Auditor should ensure that the income and expenses are accounted appropriately.
Nowadays, most of the banks are on Core Banking Solutions (CBS). Auditor should concentrate more on the master data entered and validated at the branch and also the Audit Trail.
Nowadays, most of the banks are on Core Banking Solutions (CBS). Auditor should concentrate more on the master data entered and validated at the branch and also the Audit Trail.
The auditor should be more careful when the parameters are changed and also when the concessions are given. Auditor should have process-wise detailed checklist to improve accuracy during the audit process.
Major Portion of the Bank’s Revenue are Interest Income
And different kind of charges / fees by the Bank.
Around 150-200 types charges / fees by the Bank.
Following are the important areas which should be covered for successfully completing Revenue Leakage Audit of the Branch:-
Statutory Audit – Test Check.
Concurrent Audit – 100% or test check as per sanction letter
Revenue / Income Leakage - Deposits
Revenue / Income Leakage - Advances
Revenue / Income Leakage - Locker Charges
Revenue / Income Leakage - Other Fees / Charges
CLICK BELOW TO WATCH FULL VIDEO,
And different kind of charges / fees by the Bank.
Around 150-200 types charges / fees by the Bank.
Following are the important areas which should be covered for successfully completing Revenue Leakage Audit of the Branch:-
Statutory Audit – Test Check.
Concurrent Audit – 100% or test check as per sanction letter
Revenue / Income Leakage - Deposits
Revenue / Income Leakage - Advances
Revenue / Income Leakage - Locker Charges
Revenue / Income Leakage - Other Fees / Charges
CLICK BELOW TO WATCH FULL VIDEO,
Category : Income Tax | Comments : 0 | Hits : 2248
Comments