Our firm was the stautory Branch Auditor for one of the State Bank Group Banks - State Bank of ------- head quartered at -------- , ------state . This was our first Branch Audit assignment in the state bank group.
Rather than deliberating on intricacies , would like our esteemed professional colllegues to discuss , deliberate and deal with the following observations
1) Monetary figures forming part of the financial Information were clumsy devoid of comma style making it difficult and time consuming for the auditors to apprehend and work upon
2) Balance sheet and the Profit / loss statement were too detailed without the use of appropriate supporting schedules making it difficult for the Auditor to comprehend the over all content /information
I understand from my collegues that State Banks as a whole follow this practice .
Banks are the back born of our economy
Unable to under stand whether these have the tacit approval of our professsion.
Pl deliberate on this - spare some time to air your views
CAclubindia
