Control Support Of The Monetary Resources Management System

Table 7: Internal Control Working Document (ICWD) «Identified Violations in Accounting for Bank Transactions»

Control directions	Identified violations	Normative base	Sources of information	Control procedures	Amount. thousand rubles.	Recommendations for correcting violations
1. Verification of Current Account Transactions	Supporting documents for bank statements are not fully submitted	Federal Law of 27.06.2011 № 161-FL «On the National Payment System»	Bank statements with supporting documents (payment orders, collection orders)	Inspection. cross-checking	3658.6	The information should be reconciled at the bank institution
2. Verification of transactions on foreign currency accounts	Incorrect application of foreign exchange rates when reflecting in the accounting of foreign exchange transactions and calculating exchange rate differences	Federal Law «On Currency Regulation and Currency Control» dated 10.12.2003 № 173-FL	Bank statements with supporting documents (payment orders, collection orders)	Inspection. Cross Check. Arithmetic Check	18548.2	Recommendations on the correct application of foreign currency exchange rates in the accounting of foreign exchange transactions and the calculation of exchange rate differences
3. Verification of transactions on special accounts in banks	Opening a letter of credit on terms that differ from those stipulated by the contract	Civil Code of the Russian Federation. Letter of the Central Bank of the Russian Federation dated August 24. 2004 № 36-3 / 1643 «On settlements under a letter of credit». «Regulations on the rules for transferring funds» (approved by the Bank of Russia on June 19. 2012 № 383-P)	Applications for opening a letter of credit, letter of credit	Formal check	31876.9	Recommendations to bring the terms of opening a letter of credit in accordance with the contract

< Back to article

We care about your privacy

We use cookies or similar technologies to access personal data, including page visits and your IP address. We use this information about you, your devices and your online interactions with us to provide, analyse and improve our services. This may include personalising content or advertising for you. You can find out more in our privacy policy and cookie policy and manage the choices available to you at any time by going to ‘Privacy settings’ at the bottom of any page.

Manage My Preferences

You have control over your personal data. For more detailed information about your personal data, please see our Privacy Policy and Cookie Policy.

Strictly Necessary Cookies

These cookies are essential in order to enable you to move around the site and use its features, such as accessing secure areas of the site. Without these cookies, services you have asked for cannot be provided.

Marketing Cookies

Third-party advertising and social media cookies are used to
(1) deliver advertisements more relevant to you and your interests;
(2) limit the number of times you see an advertisement;
(3) help measure the effectiveness of the advertising campaign; and
(4) understand people’s behavior after they view an advertisement.
They remember that you have visited a site and quite often they will be linked to site functionality provided by the other organization. This may impact the content and messages you see on other websites you visit.