Can anyone help me with bank audit?

Stat Audit 863 views 4 replies

Pavel

Student CA Final

212 Points Joined March 2014

Friends,

As we all know that the time of the year when the bank audit period is supposed to commense, is approaching.

I hope may of you has already done bank audit and is quite aware of the compliances and matters to look into while conducting bank audit.

Fortunately, this is my FIRST EVER BANK AUDIT. So I request for you help in my first bank audit regarding matters like :

compliances
significant matters to be looked into
preparations to be made beforehand
sharing your experiences ( i.e any significant findings that one easily overlooks)

Will be grateful if you enlighten me the above matters.

Thank you.

Replies (4)

Congrats on your first bank audit assignment. I suggest you get the latest copy of the Guidance note on Bank Audit issued this year by the ICAI. This is also downloadable from the website icai.org Apart from that I have uploaded a couple of ppts on bank audit u can download the same

Pavel

Student CA Final

212 Points Joined March 2014

Thanks..

But can u please post the links where you have uploaded the ppts for bank audit. It will help me a lot.

sathianarayanan.t

chartered accountant

267 Points Joined February 2010

My best wishes for your first venture. Our institute guidelines are ok. I have completed 25 years of branch audit. In my early days I got all the inspection reports like RBI, central audit and all other reports from the branch and read thoroughly. This will give you what are all the things you have to verify and what are all the nature of defects. These readings will give you total practical knowledge about branch audit. If you do this, you will become an expert in bank audit within a couple of years

CA Ankit Mittal

Charterd Accountant

118 Points Joined January 2011

Try to attend a Seminar on Bank Branch Audit. Many hgelpful tips are taught there, Also go through Master Circular on IRAC by RBI. Very important to understand when to classify an advance as NPA. Treat the Master Circular of RBI on IRAC as your bible and you'd do fine.

Best of Luck