Many banks have zero tolerance norms regarding generation of Exception Report everyday in their branches. In addition to that, expired but not closed LCs create unnecessary contingent liabilities for the bank. However, many banks have BC outstanding over a year. Auditor can verify if RBI norms are followed in asset classification or not. It also shows the last review date and expiry date of the account. 610 gold stampĬAclubindia India's largest network for finance professionals.However, it also provides a wide range of information of a particular account. India's largest network for Finance Professionals. Stay updated with latest Articles! Member Strength 30,90, and growing. Understanding the companies fresh start scheme, CCI Articles You can also submit your article by sending to article caclubindia. PR Print Reports Through this menu, various reports generated in Finacle can be printed or a softcopy of such reports can be taken on hard drive. GR Generate Report - This menu generates the balance sheet and profit and loss account of the bank branch on a given date. India's largest network for finance professionals. You can also submit your article by sending to article caclubindia. This is only an exhaustive list of Finacle menu options which can be useful in the process of a Bank Audit. Finacle has hundreds of menu options but of course not all of them are useful to Auditors. Through this menu, various reports generated in Finacle can be printed or a softcopy of such reports can be taken on hard drive. Auditor can verify supporting documents for such transactions. Major expenses can also be checked and provision of interest accrued and Non Performing Asset can be verified. Exceptional transactions such as activities in accounts which are due for review, advance balance greater than the Sanctioned Limit, accounts opened without introducers, system generated commission changed manually etc. However, it also provides a wide range of information of a particular account. In this article I have summarized some key Finacle menus and their uses with a view point of an Auditor. Finacle uses different menus for different functions and reports. Naturally it has become essential for an Auditor to have a working knowledge of Finacle in order to conduct Bank Audit. Call: Finacle is also one of such CBS softwares developed by Infosys.
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