Banks are allotting 2-3 branches to small audit firms.The target given for completion of 3 brach statutory audits are 5-6 working days.I suppose a lot of things get unnotished by the audit team.How an auditor certify the fairness of the Balance Sheet and P & L A/c.Ny topic is
Is it not prudent for RBI to instruct all Banks not to demand Audited statement from Branch Auditors before 15 th April
u r right......
but it is the testing time of all ca's to complete the audit in time with maintaining quality as well.......
Yes I agree with Mr. Umesh , in this way Auditor's have to skip something or they cant go through the document thoroughly which doesnot give the true and fair view.
Hi,
You all guys are correct, i believe the bank audit is a risk based audit,
its scope is limited, however there are several books available in the market as to how to do an audit of banks, and approach any of our senior practicing chartered accountant, they will help you.
It is only to focus on the key areas (mainly on NPAs) , as mentioned in your engagement letter.
I may not be 100% correct, as i have no such experience in handling any bank audit.
CAclubindia
