A seminar on Statutory Bank Audit was organised at Bhopal by Bhopal Branch of Institute of Chartered Accountant of India (ICAI).
The seminar was conducted by Professional Development Committee, ICAI and hosted by Bhopal Branch of CIRC of ICAI. Shree Ajay Vyas, Field General Manager of Central Bank of India was the Chief Guest of the Seminar. He emphasised on the banker’s expectations from auditors and said that the chartered accountants are the extended arms of Bankers.
CA Amarjeet Chopra, the Past President of ICAI, CA Ajay Kumar Jain from Gurugram and CA Abhay Chhajed were the guest speakers who deliberated in detail and enlightened the members about the various important aspects of conducting statutory bank audit. The seminar was held in four sessions.
The first technical session was taken by CA Amarjeet Chopra on ‘Overview of Bank Branch Audit and Expectation of Central Statutory Auditors from Bank Branch Auditors’ through tele-conferencing.
Second Technical Session was conducted by CA Ajay Jain on ‘Audit Planning and Documentation with special emphasis on Peer Review Requirement in Bank Branch Audit’ and third technical session was on the topic IRAC Norms and provisioning (including Agriculture advance, restructuring of advances and project under implementation).
The fourth technical session was on Reporting under long form Audit Report and was conducted by CA Abhay Chhajed.
More than 250 members attended the Seminars. Taken into consideration the recent scam of PNB, CA Amarjeet Chopra put emphasize on the responsibilities of auditor during bank audit and apprised the members about the various activities being undertaken by the branch.
“Concurrent and other auditors cannot possibly check every transaction at even such a branch which deals with foreign exchange. Therefore, they are required to look particularly at segments of lending where sudden increases and decreases are being noticed through the year or year-on-year. In these segments we should be carrying out a 100% audit of all transactions”.
The seminar was successfully headed by CA Abhishek Gupta-Chairman of Bhopal Branch of ICAI.
On this occasion CA Mayank Agarwal Vice Chairman ICAI, CA Anshul Agarwal Secretary and others were presented in the seminar.