Inter-Branch Transactions

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Recommended: The effect of internal controls on financial management

c. Inter-branch Transactions:
All the transactions related inter-branch cash transfers of this audit term has verified with payment/receipt vouchers along with related responded vouchers, Cash movement register and found to be correct. The balance between H.O. Books and Branch books tallied up to 03.11.2013.

2. DEBENTURES
The balance between Debenture Outstanding and Trail Balance has not tallied a difference of Rs.4000/- found. {A/c. No.19, 27, 23 and A/c. No.24, Rs. 1000/- each,}

3. PERSONAL LOANS
1. The branch obtained fully filled and duly signed Personal Loan Applications from the applicants, but not properly obtained approval from The Regional Manager. According to circular No.CO /CIR /ADMN/RJ:13/130, dated 12.07.2013, and the branch must obtain approval from the Regional Manager.
2. The branch has filed PL application and its related securities separately, PL application along with related securities to be filed in one file.

4. GOLD LOAN
The gold loan outstanding as on 2013 was Rs/- of Packets.
After verifying Cash Balance, gold packets in the Safe Room has physically counted and compared with the balance shown in the In&Out Ledger and the balance shown in System Outstanding Report,
As per In & Out ledger, Outstanding ledger (system) & Status Report : 209
In Safe Room Rack : 209
Gold Loan IN&OUT Register: Properly updating entries observed.

KYC NORMS – RELATED WITH GOLD LOAN ADVANCES
Regarding KYC against Gold Loan Advances, during this audit coverage period, KYC’s are verified with related records and the branch has obtained 100%
1. According to Circular No.CO/CIR/ADMN/RJ: 13/50, dated 12/04/2013, the branch has not properly uploaded photos and the branch has not at all scanning and uploading specimen signature...

... middle of paper ...

...n all aspects.

Discussions with the Branch Manager
It is hereby confirm that, discussions with the Branch Manager on all the above observations before finalizing the report.

S.Sivakumar
(Audit Manager)
Date: 06.12.2013

AUDIT RATING

NAME OF THE BRANCH: KUMARAPURAM -(TML), REGION: KANYAKUMARI

SL
NO. PARTICULARS MAXIMUM
MARKS MARKS SCORED BY THE BRANCH
1. BUSINESS DEVELOPMENT
• DEBENTURES
• ADVANCES
• INSURANCE/OTHER PRODUCTS 20
20
10 -
-
-
2 CONTROL OVER EXPENSES 5 5
3 RECOVERY 10 9
4 INTERNAL CONTROL 5 5
5 DOCUMENTATION 5 4
6 ADHERANCE OF KYC 10 10
7 • CUSTOMER SERVICE & BRANCH DEVELOPMENT

• DEVELOPMENT OF SUBORDINATES

5

5
8 SPOT RECTIFICATION 5 4
9 PREMISES & OTHER MATTERS 5 5
TOTAL 100 47

A+ EXCELENT - ABOVE 90
A VERY GOOD - 76 UPTO 90
B GOOD - 61 UPTO 75
C STATISFACTORY - 51 UPTO 60
D NOT STATISF

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