What is NTR Full Form in Banking?
NTR Full Form in Banking is Notice to Reader financial settlements. These are important financial statements for business owners who have applied for bank loans. The NTR financial statements are not prepared internally but are prepared by the business accountant, who performs the business book keeping and also the yearend tax returns.
Importance features of Notice to Reader:
The most important feature of NTR is that it informs the investors, regulatory authorities, and stakeholders that the financial information offered has been compiled on the basis of the data provided by the client but has not been reviewed and audited. The NTR is issued as part of the compilation engagement, where the accountant will organize and present the financial information but doesn’t offer assurance of its accuracy.
Emphasis on financial information:
The NTR states that the accountant will not express its assurance, opinion and verification on the financial statements. It also clarified that the financial information is dependent solely on the data offered by the individual and the company, and it also emphasizes the responsibility for the accuracy and completeness of the financial information, which rests completely with the company management and the individual providing the data.
