Significant Class of Transactions Template - 3261 Words

Entity: | Vietcombank | | Period ended: | 31/12/2012 | Significant class of transactions/significant disclosure process name: | Credit origination - Transaction processing | | Significant class of transactions/ significant disclosure process owner: | Credit Policty at HODebt management division Client Division | | We obtain an understanding of the significant classes of transactions (SCOTs) and significant disclosure processes to identify and understand the risks of material misstatement at the assertion level (i.e., what can go wrongs (WCGWs)) and, when applicable, to identify and understand the controls over the WCGWs. This template assists with completing S03 Understand significant classes of transactions and†¦show more content†¦Loan application:For both HO and Branches, Credit Dept. is organised into 3 divisions:- Client and Project Investment (optional): responsible for receiving and appraising loan request, monitoring and finalizing/ liquidating the loan. - Debt Management: mainly responsible for storing credit contr act and other supporting documents as well as updating required information into system; work with Client Division in monitoring the loan. And two Risk Management division : involved in credit approving process in terms of risk assessment. One is under HO and one is based on Ho Chi Minh CityFirstly, Client/ Project Investment officer receives client’s Loan Application and supporting documents – which are clearly stated in Article 14 – Decision 228/NHNT.HTQT: Lending Regulations1.2. Loan appraisal: * Secondly, Based on documents obtained and the present credit regulations, Client/ Project Investment officer appraises client’s application under the following aspects: * Suitability (in relation to approved Credit limit, related regulations and current risk management policies of the bank) * Feasibility,Show MoreRelatedAn Atm with an Eye2376 Words   |  10 Pagesfinancial institutions alike from fraud and other breaches of security. 1. INTRODUCTION The rise of technology in India has brought into force many types of equipment that aim at more customer satisfaction. ATM is one such machine which made money transactions easy for customers to bank. The other side of this improvement is the enhancement of the culprit’s probability to get his ‘unauthentic’ share. Traditionally, security is handled by requiring the combination of a physical access card and a PIN orRead MoreInternal Controls And Internal Control1466 Words   |  6 Pagesinformation and communication, and test of control activities (Flood, 2013). The internal controls evaluation begins with an evaluation of the organization’s operations from a different point of view, identification of who authorizes and records transactions, and a review of the job descriptions. Plan To Evaluate Internal Controls There are five major steps that are utilized in undertaking the review of the effective of the internal controls over financial reporting. They include the planning stageRead MoreBIOMETRICS IMPLEMENTATION IN COMPUTER SECURITY There must be some solid personal3000 Words   |  12 Pagesbiological features from the users and it compares these features against a template set in its database. Depending on the user requirements it operates either in identification or verification. In verification mode it uses the captured biometric data with the already existing data and provide the access, where as in identification mode the system will recognize an individual by comparing it with all the available user templates in the database. Its hardly astonishing that biometrics is such a delicateRead MoreDifference Between Business Model And Strategy1853 Words   |  8 Pagesare widely valued by customers is said to have adopted differentiation strategy† (Ritika,2013). Those dimensions of product can be design, customer service, technology, identity etc. Porter(1980) defined â€Å"Differentiation involves developing one significant aspect of a product in order to set it apart from its competitors†. (iii)Focus Strategy: â€Å"The focus strategy may be viewed as a variation on the differentiation approach, in that it involves targeting the product specifically towards the needsRead MoreHammond Cards, Inc: The Creative Acquisition10185 Words   |  41 PagesWendy Hammond, daughter of the founder and current President of Hammond Cards, had entered into discussions with Creative Designs’ owners to discuss an acquisition of the company. The owners were amenable to the sale and had provided Hammond with significant amounts of data about their business and operations during the early part of the â€Å"due diligence† process. Wendy was intrigued by what they had learned. She believed that the proposed acquisition of Creative Designs would provide numerous opportunitiesRead MoreFinance and Accounting: Practice Problems4710 Words   |  19 Pagescapital to the extent that previous net gains from sales of the same class of stock are included therein; otherwise, from retained earnings. b. additional paid-in capital without regard as to whether or not there have been previous net gains from sales of the same class of stock included therein. c. retained earnings. d. net income. 2. Which of the following best describes a possible result of treasury stock transactions by a corporation? a. May increase but not decrease retained earnings. bRead MoreAdjusting Entries14033 Words   |  57 Pagesunderstand the effects of transactions on a company’s financial position, as well as the pressures and incentives they will someday face to misrepresent that position. This case introduces students in intermediate financial accounting courses to both of these important objectives. First, the case improves students’ critical thinking skills in accounting by allowing them to determine if various correcting entries should be made, and what the effects of those transactions will be on the company’s financialRead MoreStrategic Planning And The New Zealand Government Legislation Essay2769 Words   |  12 PagesOracle is the largest business software and hardware company in the world, with more than 3lakh customers and supports these customers in more than 145 countries. Oracle is the unchallenged leader in Financial Services, with an integrated, best in class, end - to - end solution of intelligent software and powerful hardware designed to meet every financial service needed. Oracle organisation is satisfies ethical and legal issues with respect to IITP code of conduct and the New Zealand government legislationRead MoreFundamental Financial Accounting Concepts13807 Words   |  56 PagesAUTHORS â€Å"The conceptual approach to financial accounting is a  great innovation. It gives students a â€Å"bird’s eye view† of the forest of accounting. By Chapter 3, the students are ready to journey into the trees of debits and credits and learn how transactions get  reported on the financial  statements.† STEVE MULLER, VALENCIA COMMUNITY COLLEGE Why should you adopt this textbook? Because it does a better job of teaching traditional introductory accounting concepts. Indeed, we view ourselves as innovativeRead MoreOperations Management Chapter 18 Manual1950 Words   |  8 Pagesa result of using automated computerized checkout where the customer can review the computerized checkout sheet provided by a computerized system instead of physically having to go through the front desk. In addition, since many of the service transactions can be performed on-line, the customers do not have to physically visit the service facility, which also improves waiting line performance. Critical Thinking 1. Financial and space constraints may limit management options. Psychological