Banking audit. Checking the constituent documents of a credit institution (the most important)

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Banking audit. Checking the constituent documents of a credit institution (the most important)

Lecture notes, cheat sheets

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15. Verification of constituent documents of a credit institution

As a source of information to identify violations when checking the constituent documents and internal regulations of credit institutions, the following are used:

1) Constituent documents;

2) Internal regulations governing the activities of credit institutions;

3) Minutes of meetings of shareholders, meetings of the Board of Directors, the control and audit commission, the Board of the bank, the credit committee and other collegiate bodies;

4) Work plans of the credit organization;

5) Orders and orders of the head of the credit institution;

6) Acts of inspections;

7) Accounting policy;

8) Accounting and reporting data of the credit institution.

Verification of constituent documents includes the following steps:

1) Identification of the availability of the following documents:

a) in the parent organization: licenses, charter, constituent agreement, additional agreements, changes to the charter and composition of founders, new charter and licenses when changing the legal form of the bank;

b) in the branch: the presence of regulations on the branch, established in accordance with the requirements of the charter, the presence of a power of attorney to carry out operations and legal actions by the manager of the branch (a power of attorney is issued to the deputy manager for substitution).

2) Minutes of the Meetings of Bank Members, Meetings of the Board of Directors, the Board of the Bank, orders and other internal documents are examined.

3) Compliance of operations conducted by the bank with the license obtained by it (based on accounting data - balance sheet or turnover sheet).

4) The compliance of the bank’s operations and legal actions with the requirements of the Charter is checked, including:

a) powers and actions of the manager and supervisory bodies (Board of Directors, Meeting of Shareholders, Control and Audit Commission);

b) powers and actions of the bank’s board and other executive bodies; c) application in practice of the approved incentive system; d) distribution and use of profits; e) change in the authorized capital, composition of founders, their shares, issue of shares, etc.

Possible violations identified during the audit:

1) Exceeding the powers of the board of the bank;

2) Sole adoption by the chairman of the board of the bank of decisions related to the competence of collegial bodies;

3) Violation of the procedure for the distribution of profits and the formation of a reserve fund;

4) Formal actions of individual collegiate bodies;

5) Incorrect registration of the protocol.

Author: Shevchuk D.A.

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