Compiled by ANKIT AGRAWAL. Statutory Bank Branch Audit - Technical and Practical Aspects. Contents of Balance Sheet ( Form A). Schedule –1 Capital Schedule –2 Reserve and surplus Schedule –3 Deposits Schedule –4 Borrowings Schedule –5 Other Liabilities and provisions
Statutory Bank Branch Audit- Technicaland Practical Aspects
An asset, including a leased asset, becomes non-performing when it ceases to generate income for the bank (Para 2.1.1)
A non-performing asset (NPA) is a loan or an advance where;
Classification is only for the purpose of computing the amount of provision that should be made with respect to bank advances and certainly not for the purpose of presentation of advances in the banks balance sheet
Loss assets should be written off. If Loss Assets are permitted to remain in the books for any reason, 100 percent of the outstanding should be provided for.
Following certificates should be obtained from management: