Concurrent audit of bank

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Querist : Anonymous

Querist : Anonymous (Querist)

19 March 2016 My question is can a concurrent auditor of a Bank declare NPA in his report?

CA Darshan

CA Darshan (Expert)
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05 April 2016 Concurrent Auditor can declare NPA, if branch is unable. But need to report justification for the same.

Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2016 Branch manager hadn't allowed us to do so, on the note that it is not in the purview of concurrent auditors to classify any account as NPA,only statutory auditors are allowed to do so.according to them a concurrent auditor can only show potential NPA in his report. Whats your point Sir ??

CA Darshan

CA Darshan (Expert)
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11 April 2016 Concurrent Auditor cannot classify in System/can not pass the MOC but in the report he can say "These accounts are NPA but branch has not classified the Same, In our Opinion it should be NPA....with detail justification".

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Querist : Anonymous

Querist : Anonymous (Querist)

12 April 2016 Thank you sir for your valuable advice.

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