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Wednesday, September 30, 2009

Important Bank Audit Questions

1. Write a short note on income recognition and classification of advances by the banks.
2. An industrialist with surplus funds decided to form a Private Sector Bank. What are the guidelines issued by the Reserve Bank of India for formation of private sector banks?
3. Write short notes on Vostro and Nostro Accounts.
4. What are the duties of an auditor of a nationalised bank in respect of verification, valuation and disclosure of its investments?
5. Write short notes on (i) Concurrent Audit in case of banks, (ii) Returns submitted by banks to RBI, and (iii) Audit Committee of banks.
6. What are the eligibility criteria for the Banks to enter into Insurance business?
7. How is the income recognised in case of NPAs of the banks?
8. What is the procedure for verifying Branch Adjustment A/c and Contingent Liabilities?
9. Give a specimen of material accounting policies that may be followed by a bank in respect of its foreign exchange transactions.

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