Karnataka State Cooperative Apex Bank invites application for empanelment as Concurrent Auditors.
The Karnataka State Cooperative Apex Bank Limited invites application from Chartered Accountant firms for empanelment as Concurrent Auditors.
The application for the empanelment as Concurrent Auditor should be made in prescribed format. No last date for submission has bene prescribed.
Application for Empanelment of CA firm for Concurrent Audit” should be mentioned on the envelope.
Address to which applications can be sent:
The Karnataka State Cooperative Apex Bank Ltd.
“uthunga”, no.1, Pampamahakavi Road,
Chamarajpet, Bengaluru-560018
Phones : 080-26983700, 26983722
E-Mail : mis@karnatakaapex.com
Website : www.karnatakaapex.com
Job chart for internal auditors for conducting concurrent audit of the branches of the bank.
1. Verification of all the day’s transactions on day-to-day basis as close to the date of transactions as practicable. Verification of 100% to include challan/slips/vouchers, cash scroll, long book, day book, General ledger and other individual ledgers. Vouching at 100% should be done from slips to long book and from long book to individual ledgers, day book and general ledger and to certify the same in the report.
2. Thorough review of internal control procedures and systems as per Head Office instructions.
3. Establishment of overall controls.
4. Review of operational efficiency.
5. Review of weekly, monthly, quarterly, half yearly and yearly reports generated by the branches and submission of returns to various Authorities.
6. Suggestion for viability of branches.
7. Verification of correctness of various returns/statements including general ledger statement sent by branches with reference to books of accounts/records.
8. Vouching of correctness of various summations and balancing of various accounts done by branches and reconciliation of pending entries with regard to Head Office account.
9. Comment on the deposit position during the period of concurrent audit.
10. Physical verification of cash once in a month by surprise.
11. Verification of deposit account opening forms with reference to nomination/age of depositor, KYC details, Address details etc.,
12. To verify the coverage of over dues under legal action particularly NPA Accounts, time barred debts in respect of installment loan, jewel loan, housing loan, vehicle loan and other loans.
13. Verification of exchange and lodgment of second set of keys of branch as per Head Office circular.
14. Verification of system of issue and maintenance of cheque books, withdrawal slips, demand draft books, pay order etc., and maintenance and updation of various registers at branch level such as Insurance due register, loan applications register etc.,
15. Verification of collection of proper commission on Demand Draft/Pay Order issued and other services rendered as per the circular issued by Head Office.
16. Verification of correctness of monthly receipts and payments/General ledger statements sent by branches to Head Office with reference to relevant books of accounts.
17. Scrutiny of violation of interest rate directives on payment of interest on deposits particularly payment of deposits before maturity, advance against deposits etc. and obtaining declaration from staff.
18. Verification of transactions under suspense assets/suspense liabilities and differences under clearing etc.,
19. Checking of interest calculation on deposits and various loans and advances and reporting of income leakage any, to the bank immediately.
20. The Chartered Accountants should invariably comment on the following items in a separate annexure to be attached to each quarterly audit report.
(a) Comment on implementation of internal checks/control as indicated in Head Office circulars from time to time.
(b) Status of compliance to audit observations pertaining to the previous period.
(c) Correctness of the particulars furnished in various returns submitted to Head Office/various Authorities and suggestions for improvement in the internal control system.
21. To verify the procedures followed while sanctioning of various types of loans viz Instalment loan, Jewel loan, Housing loan, Mortgage loan, Vehicle loan advance on NSC/Deposits etc., and also to verify the documentats obtained in respect of various loans sanctioned and collection of necessary processing fee, service charges, stamp duty etc .
22. Auditor shall also verify insurance coverage up to date with regard to vehicle and housing loan etc.,
23. To comment on the proper maintenance of Inward and Outward registers for clearing cheques and also clearing settlement sheet.
24. To comment on suspense asset and liability account particularly with regard to long pending items/unclaimed DD/Payorders more particularly about entries of 6 months and above.
25. To comment on delay in collection of outstation cheques and also to verify collection of proper commission/service charges.
26. To comment on instances of allowing drawls against unrealized cheque if any.
27. To verify and comment on discounting of cheques as per Head Office circular.
28. To comment on issue of Solvency Certificate/Bank Guarantee, if any.
29. Instances of non-obtaining of nomination in respect of various deposit accounts has to be commented.
30. To comment on heavy withdrawals from inoperative SB/Current Accounts and further to report instances of payments from inoperative accounts without the knowledge of the Branch Manager & as per RBI directives.
31. Verification of non-transfer of inoperative accounts more than 10years to DEAF account.
32. KYC compliance in respect of existing customers, old customers, lockers etc.
33. To comment on rotation of duties among clerks/Asst. Managers as per Head Office direction.
34. Verification of locker application, documents, collection of rent etc., in respect of safe lockers and comment on operational aspects of the lockers.
35. Verification of C-KYC updation for the accounts.
36. Verification of lapses in appraisal and documentation of Apex OD loans sanctioned/renewed during the audit period. Also comment on utilization of the limits in the account.
37. The auditors may also cover any other areas or points uncovered in the methodology and scope of assignment, if they deem necessary.
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