Know You Client

client understanding template
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  Know your client in Detail (understanding business and its activities) I. Client Overview (a) Client History and Background Provide a description of relevant client background Client Profile Nature of client business Number of Branches/offices (if any) Directors Major shareholders Chief Executive Officer (Address and telephone number) Chief Financial Officer (Address and telephone number) Head of internal audit (Address and telephone number) Company Secretary (Address and telephone number)Legal Advisor(s) List of related parties and their relationship Tax Advisor Major Banks Organizational Charts, etc.  ________________________________________________________  ________________________________________________________  ________________________________________________________  ________________________________________________________  ________________________________________________________  ________________________________________________________  ________________________________________________________  ________________________________________________________  ________________________________________________________  ________________________________________________________    (b) Client Business Objectives and Related Business Strategies Provide a summary of the objectives, strategies and method of implementing the strategies. Business Objectives Related Business Strategies 1. 2. 3. (c) Client Business Components (i) Major Markets (ii) Major Products and Services (iii) Major Customers (iv) Major Competitors    (v) Alliances (including suppliers) and other relationships (d) List of Authorized Signatories Name Designation Monetary Limit Allowed Signature  __________ _________ ____________ ________  __________ _________ ____________ ________  __________ _________ ____________ ________  __________ _________ ____________ ________  __________ _________ ____________ ________ Note : Information shall be used in performing audit procedures (e.g. Test of Controls & Substantive Testing). If there are no significant changes since previous audit, this may be transferred to the permanent file. (e) Notes of Meeting with Client (for recurring audits) CLIENT NAME DATE VENUE TIME FIRM REPRESENTATIVES Name Designation CLIENT REPRESENTATIVES Name Designation    CONCLUDING REMARKS Sign off Prepared by Reviewed by Date Date Agenda for Meeting Latest audited accounts Coordinating persons Name Designation Information about Other Auditors/ Co- auditors(if any)  Availability of Accounting and/ or Internal audit / Internal Control System manuals and any changes  Areas Requiring special attention Physical Existence Verification  A p p r o x V a l u e Date Location(s) Coordi nator( s) Stock Cash Investment Others
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