Скачать с ютуб Revenue Leakage / Income Leakage in Banks | Concept of Revenue Leakage in Bank's Audit | Bank Audit в хорошем качестве

Revenue Leakage / Income Leakage in Banks | Concept of Revenue Leakage in Bank's Audit | Bank Audit

Banks Branch Audit - Revenue / Income Leakage in Banks | Bank's Concurrent Audit / Statutory Audit | Concept of Revenue Leakage in Bank's Audit discussed by CA. (IP) Vivek Khurana. #casansaar #bankaudit #bankauditupdates #bankbranchaudit #bank 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. 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 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. Understand different type of Accounts offered by the Bank and the Charges (Monthly, Yearly etc.) also on test check basis check from master data. Bank Circular on Interest Rate / charges – Whether interest charge as per Bank Circular / Scheme. Interest:- The auditor should not blindly rely on system calculating the interest and should verify month-on-month interest by calculating manually. - Cheque return charge Stop payment charges Ledger folio charges Debit/Credit issuance charges Temporary overdrafts (TOD) in saving bank accounts or current accounts RTGS / NEFT Charges Cheque Book Charges Service Charges ATM usage charges Commission and exchange on DD / Pay orders Debit/Credit issuance charges SMS Charges Minimum Balance Charges Closing Account Charges High Value Clearing Charges Check Charges Register if Any and Reversal of charges in any account and authorisation? Processing Fees / Renewal Fees:- Check as per Sanction Letter. Any Register for Charges at Branch Level. Test Check – Master Data. Pending Renewal – Details- Loss of Revenue Leakage – NPA Reversal of any fees / charges to check and ask for authorisation? Interest on all types of loans / advances:- Check as per Sanction Letter. Interest charged as per latest circular Check Master Data – Audit Trail. Interest on NPA – Reversal and in Memorandum. The auditor should see the flagged accounts where interest is not charged. Legal / Vetting / Documentation Charges:- Check as per Sanction Letter. Any Register for Charges at Branch Level. Test Check – Master Data. Reversal of any fees, Inspection Charges:- Commitment Charges:- Panel Charges : Revenue / Income Leakage – Reporting in LFAR. Has the test checking of interest/discount/ commission/ fees etc. revealed excess/short credit of a material amount? If so, give details thereof. Has the branch complied with the Income Recognition norms prescribed by R.B.I.? (The Auditor may refer to the instructions of the controlling authorities of the bank regarding charging of interest on non-performing assets). Has the test check of interest on deposits revealed any excess/short debit of material amount? If so, give details thereof Does the bank have a system of estimating and providing interest accrued on overdue/matured/ unpaid/ unclaimed term deposits including in respect of deceased depositors? Are there any divergent trends in major items of income and expenditure, in comparison with corresponding previous year, which are not satisfactorily explained by the branch? If so, the same may be reported. DISCLAIMER :- This Video is for the purposes of information / knowledge and shall not be treated as solicitation in any manner or of for any other purposes whatsoever. It shall not to be used for any legal advice /opinion and shall not to be used to rendering any professional opinion. Viewers are advised to kindly go through to original Government publications / notifications and published case laws or judicial pronouncements. The statements and opinions expressed in video are those of the speaker and do not necessarily reflect those of the CA Sansaar or any of its employees. CASansaar Team does not take any responsibility for the views of the Speaker. Our Social Links - Follow CA Sansaar YouTube    / casansaarca   Twitter   / casansaar   Facebook   / casansaarca   Linkedin   / casansaar