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Bank audit

Uma Krishna Rao (executive) (28 Points)

21 July 2016

During Bank audit, whether there is any requirement to check on the complaints register? within how many days does a bank needs to clear the complaint?

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3 Replies

CA Saurabh Singh (Practising Chartered ) (974 Points)
Replied 23 July 2016

Hello uma,

Generally in stat audit of bank, the auditors have limited time for completion of audit.

Hence its not compulsory to go through complain register, jowver if you can manage time you can go through it to find some major issues.

The complaints in register depndens on their materiallity, if they have serious issues they need to be sorted within reasonable perid.

if thy are pending for longer run you can follow up for the same

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CA Kishore D (Management Consultant | Trainer) (324 Points)
Replied 23 July 2016

Hi Uma,

Though it is not mandatory, I would advise you to go through the complaint register since it throws a lot of light on the 'operations' of the bank. Some points arising from that could be useful for the 'Long Form Audit Report'.

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karthik.m.n (student) (191 Points)
Replied 24 July 2016

Bank normally have circulars and guidelines regarding clearing of compliANT Or grievances.. Upto my knowledge it normally mentioned in internal audit report, if you are smart in time you can go with that and it's really helpful some where in report drafting..

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