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In the audit of banks ,why we can't do analytics for loan but it is possible for interest amount?

Auditing

Could anyone clarify this doubt to me?


K.V. Karthik

K.V. Karthik

CA Inter

34K+

29-Apr-20 17:03

388

Answers (4)

How is it possible for analytics for interest amount?


Sudha Reddy

Sudha Reddy

CA Final

20K+

30-Apr-20 18:01

Sudha Reddy

How is it possible for analytics for interest amount?

Actually it was asked in one of the mcqs in test series , really I too don't know about the word analytics.Thatswhy I am asking for any clear explanation from someone.


Thread Starter

K.V. Karthik

K.V. Karthik

CA Inter

34K+

01-May-20 13:15

Interest is mostly accounted and charged by systems based on loan type and dues as per agreement...but for loan creation and collection there should be human intervention so analytics check is mandatory for each and every loan


Divya Talluri

Divya Talluri

CA Inter

140

01-May-20 13:51

Thread Starter

K.V. Karthik

Actually it was asked in one of the mcqs in test series , really I too don't know about the word analytics.Thatswhy I am asking for any clear explanation from someone.

Interest analytics We know how many loans have been given in the year. Consider total loans during the year, categorise and compute interest based on fixed interest rates for the general due periods


Sudha Reddy

Sudha Reddy

CA Final

20K+

07-May-20 16:14

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