CREDIT MONITORING- Is to?watch?closely?for?purposes?of?control,?surveillance,?etc.;?keep?track of Credit Facilities attached with high vulnerability
CA Ritu Mulchandani
![CA Ritu Mulchandani]()
CA Ritu Mulchandani
Qualified CA | Certified Forensic Auditor | Expert in Accounting, Audits, Taxation, and Bookkeeping Outsourcing | Offshore Clients | Promoting Business Efficiency and Growth |
- Verification of Stock Statement:-
- Deviation in the level of inventory as declared by Borrower in the Stock Statement and Financial Statements.
- Whether Opening Balances tallies with the Closing Balances of Previous Months.
- Whether trend of level of Inventory with earlier months shows major variations.
- Whether level of Inventory is proportionate to level of Activity.
- Whether list of Debtors related to Business only.
- Operations In Cash Credit Account
- Whether Turnover in the Account is Adequate as compared to Turnover in the Business.
- Whether Turnover is INFLATED by Cash withdrawals and Cash Deposits.
- Whether Cash Withdrawals are excessive as compared to Business needs.
- Cheque Payments compared with Paid Stock,
- Inter Firm Transactions with Associate Concern observed.
- Periodic Payments (Loan Repayments) observed.
- Payment to parties unrelated to Business observed.
- Whether Frequency Bouncing of Cheques Deposited as well as issued noticed.
- Whether Cash deposits sufficient to clear sufficient to clear Cheque noted.
- Irregular or Infrequent Credits observed.
DGM in Union Bank of India | FCA | FRM | Banking | Finance | Accounts | Tax | Audit | Risk|
7 年correct points
Assistant Manager at S R B C & CO LLP (member firm of EY Global)
7 年Very helpful ma'am!
Insolvency Professional Founder Governing Board Member of AIIPA (Retd Asst. Gen. manager Oriental bank of commerce)
7 年list of obsolete stock be obtained. Agewise list of debtor. Compare list of Creditors and debtors from previous list. Marks entries where amount is same. In big sale purchase cases cross check by TR/RR to see genuiness of transactions particularly of associated/related firm
Regional head PWM ICICI Securities| Private client group| Experienced Banker| Wealth|Relationship Management| Retail| Assets| Leadership Team|
7 年In the light of recent developments in banking system this is very meaningful input.