UCO Bank has informed that in the limited review report of the Bank for the quarter ended December 31, 2007, the Auditors of the Bank have made the following observations:
1. Reconciliation / adjustment of pending outstanding entries in the Inter-Office and Inter-Bank transactions (refer to Note No. 2) and
2. Account of certain income on cash basis not being in accordance with Accounting Standard 9 on Revenue Recognition issued by the Institute of chartered Accountants of India (ICAI) (refer note No 6).
1. Reconciliation / adjustment of pending outstanding entries in the Inter-Office and Inter-Bank transactions (refer to Note No. 2) and
2. Account of certain income on cash basis not being in accordance with Accounting Standard 9 on Revenue Recognition issued by the Institute of chartered Accountants of India (ICAI) (refer note No 6).
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