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

Could anyone clarify this doubt to me?

K.V. Karthik

CA Inter

★ 34K+

29-Apr-20 17:03

Answers (4)

How is it possible for analytics for interest amount?

sudha reddy

Moderator

30-Apr-20 18:01

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.

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

CA Inter

★ 140

01-May-20 13:51

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

Moderator

07-May-20 16:14