COMPLETE REVIEW OF ACCOUNTS/STOCK .VERIFICATION NAME OF BRANCH : DATE OF INSPECTION : DATE OF VISIT : UNIT NAME OF ACCOUNT : NAME OF C.A.FIRM : NAME OF THE PERSON : INSPECTED THE A/C PERSON FROM BRNCH WHO : ACCOMPAINED THE CA : OFFICE ADDRESS : FACTORY : NATURE OF ACTIVITY & GOODS : POSITION OF ACCOUNT AS ON DATE OF VISIT (Rs.in Lacs.) --------------------------------------------------------------------------------------------------------------------------------- Nature of Limit Value of Drawing Dr. balance irregular by Facility Sanctioned security Power outstanding (Amount) --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- A. INSPECTION OF ACCOUNT AT BRANCH 1. TERM & CONDITIONS i) Ascertain whether all terms and conditions of sanctioned are : Yes/No Compiled with. ii) If no, terms & Conditions which are yet to be compiled with : iii) Steps proposed for rectification of shortcoming /irregularity : 2. DOCUMENATION i) Whether proper documents including charging of : Yes/No primary and collateral securities obtained Date of documents : Date of Balance Confirmation : ii) Whether equitable/registered mortgage property : Yes/No created ;if not, nature of deficiency. iii) Whether documents/equitable mortgage properly : Yes/No stamped ;if not, nature of irregularity/deficiency. iv) Whether charges on assets properly created : Yes/No (including first charges/second charges/pari passu charges) If not, reason for non-creation of charge. v) Wherever required, charge whether registered with : Date of Date of Value of ROC within prescribed times. Registration certificate charge (Form 8 & 13 filed or not) of charges ------------------ ----------- ----------- . If not, reason therefore : vi) Any other irregularity observed in respect of : documentation 3. OPERATIONS/PERFORMANCE OF THE ACCOUNT AT BRANCH (Please see operation of account for full FY------------------to------------------) i) Whether the account is being regularly/actively operated.: ii) Whether sales being routed through the account : Random check of 10 credits with sales realisation Including bills. iii) Number of times the account remained overdrawn. : Ascertain reasons for such overdrawals. iv) In case of Packing Credit details of overdue packing : S.No. Amount Last date of credits shipment ------ ---------- --------------- Whether PC is Adjusted by application of local : Yes/No Rupee Funds.? v) Whether bills are being realised as per toner/terms : Yes/No vi) Details of overdue bills,both inland/foreign : vii) Details of bills returned unpaid : viii) Comprehensive ECGC coverage obtained as per term : of sanctioned, or not. ix) Is there development of LC. If Yes , number of LCs : devolved the amount . x) Whether any guarantee invoked? If yes, number : and amount. xi) No of guarantees expired but still outstanding. : xii) Whether interest is being serviced or not : xiii) In case of Term Loan whether repayment of : installment is regular. 4. SUBMISSION OF STATEMENTS i) Whether stock statements are being submitted : Yes/No regularly Date of Last stock statements : ii) Whether DP is being calculated Check DP register, : Yes /No If not maintained, given remarks. iii)(a) Whether QIS statements submtted as per terms of : QIS I QIS II QIS III sanction Details be given. ------- -------- --------- (b) Whether operating limits are fixed as per QIS I : (c) Whether penal intt. @ 1% p.a. charged for delay/ : non-submission of QIS statement. iv) Details of insurance policy : (a) Amount of insurance Policy. : (b) Valid From : (c) Insurance coverage : B. UNIT VISIT Name of the Person contacted at unit with designation: 1) Whether Banks Name plate has been prominently : Yes/No displayed 2) Production capacity of manufacturing unit : Last Year Current Year ---------------------------------------------- i) License Capacity : ii) Installed Capacity : iii) Actual capacity : 3) Method of Valuation of Stock i) Raw Material : ii) Stock-in-Process : iii) Finished Goods : If not in order, give details : 4) Stock position of hypothecated stock as on -------------- and position of receivable and sundry creditors as per stock statements format . (Rs.in Lacs) ---------------------------------------------------------------------------------------------------------------- Item Rate Total Value ----------------------------------------------------------------------------------------------------------------- Raw Material Stock –in-Progress Stores & Spares Finished Stock Total * • In case of excisable items, the excise register should be checked to find out stock position Otherwise stock register/original invoice be checked to record the stock position. Stocks Received under LC in respect of which the company has not retired the bill, should be Deducted while calculating the drawing power. 5. Stock sent for job work to another processors --------------------------------------------------------------------------------------------------------------------------------- Nature of Value of To whom Date of Proof of Remarks Stock Stock sent despatch despatch --------------------------------------------------------------------------------------------------------------------------------- 6. Stock received for procession on job-work basis or belonging to sister/allied concerns -------------------------------------------------------------------------------------------------------------- Nature of Value of Date of Whether such stocks Remarks stock stock receipt are segregated & kept apart from the stocks hyp. to the bank ------------------------------------------------------------------------------------------------------------- 7. Whether the position of stock as revealed from the bank of the party and actually lying at the site tallies with each other ? 8. Inventory norms followed by Company (Rs . in Lacs ) Total Annual Actual stock Month annual held Consumption Consumption ---------------- --------------- ----------------  Raw Material  Stock in Process  Store & Spares  Finished Goods . 9. Reason for sudden increase in raw material /store and spares/ 10. Reasons for abnormal increase in finished goods. Whether the finished goods include :- a) goods returned by the buyers b) left overs or old batches c) non-saleable items being sub-standard or out of fashion 11. Whether in your opinion the company is following Correct stocking pattern and give comments 12. Whether proper internal control/verification of stock done by Management 13. Details of obsolete/more than six month old stock 14. Whether obsolete stock exclude or not while calculating DP. 15. Has the factory been closed due to lockout/strike or the production has suffered due to labour unrest during the year ? give details. 16. whether the branch officials have conducted inspecation of stock during the year ? if yes date (S) of visit  Details of irregularities observed by the branch officials 17. verfication of plant & machinery in case of term loan a) Verify invoices / bills b) whether in working condition c) in case of project finance ,cost over-run means of financing the same and reasons. 18. Irregularities point out in last RBI Inspected/Statutory Inspection /Internal Audit with steps taken by the branch for rectification Irregularities Step initiated by Present status Branch For Rectification 19. Irregularities of last stock Audit report have been rectified: Yes/NO if no, the persisation irregularities be reproduce below: 20. Give detailed comments about your observations in the account. Date: SIGNATURE OF THE CHARTERED ACCOUNTANT/ INSPECTING OFFICE NAME :------------------------------------------------- DESIGNATION :-------------------------------------------------- Membership Number :------------------------------------------------- ADDRESS :--------------------------------------------------