What special points will receive your attention while auditing the accounts of banking company?
The following important points should be noted by the auditor in the audit of accounts of a banking company: General: 1. He should, first of all, confirm that his appointment is in order. ADVERTISEMENTS: 2. He should see that Annual Accounts of the banking company have been prepared in proper form. 3. He should examine the system of internal check and control and ascertain whether such a system is adequate or not. Generally, banks have a separate audit department for the examination of day-to-day transactions. The efficacy of such a system should be examined. Image Source: accountancyage.com 4. He should visit the bank on the last working day of the year to count the cash himself. If the money has been kept with the Reserve Bank of India or any…