https://www.taxtmi.com/article/detailed?id=6757 The illustrative auditor's report and programme identify material misstatements arising from improper recognition, classification and provisioning of advances: borrower accounts incorrectly classified as standard instead of NPA, unrealised interest improperly recognised and only partially reversed, inadequate security verification and valuation for certain advances, inconsistent application of IRAC norms and omission of Head Office adjustments and disclosures, leading to a qualified or adverse opinion and necessitating memoranda of changes for Head Office action. en-us Wed, 23 Mar 2016 19:39:00 +0530 Fri, 25 Mar 2016 15:40:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6757 The illustrative auditor's report and programme identify material misstatements arising from improper recognition, classification and provisioning of advances: borrower accounts incorrectly classified as standard instead of NPA, unrealised interest improperly recognised and only partially reversed, inadequate security verification and valuation for certain advances, inconsistent application of IRAC norms and omission of Head Office adjustments and disclosures, leading to a qualified or adverse opinion and necessitating memoranda of changes for Head Office action. Articles Accounting - Auditing Wed, 23 Mar 2016 19:39:00 +0530 https://www.taxtmi.com/article/detailed?id=6757