Examining the cash balance at the bank branch is routine job for the senior officer of the branch assigned with the job. Physical verification may be carried out by the branch head on a surprise basis. The statutory auditors appointed by the bank have to verify the cash balance at the branch at the end of 31st March. In addition to the above the internal and other external auditors (including concurrent auditors) of the bank have to examine the cash balance or internal auditor (inspector) on a surprise basis, at any time shortly before the day beginning or after the day end. This is to serve as administrative support to branches, help in adherence to prescribed systems and procedures and prevention and timely detection of lapses/irregularities in respect of safety of the cash maintained in the branch.
Auditors/Bank inspectors are expected to follow the below-mentioned checklist for cash verification:
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