AUDIT OF BANKING COMPANIES

The banks which perform function of accepting and lending loans are known as ______ banks

• Commercial Banks

• Development Banks

• Regional Rural Banks

• Cooperative Banks

The laws applicable to banks is ________

• Sale of goods Act, 1930

• Consumer Protection Act, 2019

• Indian Contract Act,1872

• Companies Act 2013

The provisions for presentation of financial Statements of banks are given under _______ Section of Banking Regulation Act, 1949.

• 31

• 29

• 50

• 18

In which of the following case bank auditor is considered as disqualified?

• A body corporate other than LLP

• Limited Liability Partnership

• An individual who is a qualified CA

• Partnership Firm

“Form A” of Third Schedule of Banking Regulation Act, 1949 deals with preparation of __________ of financial statements of Banks.

• Balance Sheet

• Profit & Loss Account

• Revenue Account

• Appointment of auditor

Which of the below statement is true with regard to Auditor of Banks?

• He should acquire knowledge of client’s business

• He should not have access to books of accounts of banks

• He should do routine checking of all transactions

• He cannot be a Limited Liability Partnership firm

The cashier of a bank should not have access to ________ of a bank

• Currency counting machine

• Cash Vault

• Ledger Accounts

• Attendance register

_________ is not the duty of an auditor of a bank auditor

• To certify Statutory reports

• To maintain books of accounts of banks

• To help the investigator

• To maintain confidentiality

“If the bank is unable to collect a bill on due date, immediate steps should be taken to recover the amount from the drawer”, this feature comes under ________ of bank audit

• Internal Control System of cash

• Audit report

• Internal Control System of Bills

• Preparation of financial statements

Those advances which can be recovered on time are classified as ________

• Standard Assets

• Sub-standard Assets

• Doubtful Assets

• Loss Assets