Bank Branch Audit Queries – Ask from Expert Panel of ICAI

By | March 31, 2017
(Last Updated On: March 31, 2017)

AUDITING AND ASSURANCE STANDARDS BOARD
CONSTITUTES EXPERT PANEL FOR ADDRESSING BANK BRANCH AUDIT
RELATED QUERIES FOR THE FINANCIAL YEAR 2016-17

Dear Members,
The bank audit season is around the corner. Given the fact that the banking industry is typical in terms of its geographical and customer spread, the volume and varied nature of products and services offered, coupled with the strict constraints for completing the audits, the members, many a times, face a lot of issues/ queries while conducting Bank Branch Audits. These could include determination of NPA status, demonetization issues, implications of complicated data found in a branch audit, unavailability of any relevant RBI circular, implications of the requirements of RBI circular, nature and adequacy of documentation, possible wordings of the audit report on some important matters in bank branch audit, reporting on Long Form Audit Reports, Ghosh and Jilani Committee requirements, special purpose reports and certificates, etc..

With a view to support our members for fast resolution of such queries, the Auditing and Assurance Standards Board (AASB) is pleased to offer an Online support to our members from April 1st, 2017 till April 15th, 2017 for the bank branch audits for the year ended 31st March 2017. The queries can be sent at bankauditfaq@icai.in.

The Online support facility will be managed by an expert panel containing the following members:

Panel Coordinators

CA Shyam Lal Agarwal, Central Council Member and Chairman, AASB, CA Sanjay Vasudeva, Central Council Member and Vice-Chairman, AASB.

Other Members on the Panel

CA Shriniwas Y. Joshi, Mumbai, CA Abhay Kamat, Mumbai, CA Ashutosh Pednekar, Mumbai, CA Dhananjay Gokhale, Mumbai, CA Gautam Shah, Mumbai, CA Ketan Saiya, Mumbai, CA Manish Sampat, Mumbai, CA Niranjan Joshi, Mumbai, CA Parag Hangekar, Mumbai, CA Sandeep Welling, Mumbai, CA Sanjay Khemani, Mumbai, CA Sanjay Rane, Mumbai, CA Shivratan Agarwal, Mumbai, CA Vikas Kumar, Mumbai, CA Vipul Choksi, Mumbai, CA Atul Bheda, Mumbai, CA I.B. Sonawalla, Mumbai, CA. Nachiket Deo, Mumbai, CA. Pankaj Tiwari, Mumbai, CA. Bhagwan Das Gupta, Delhi, CA. Ajay Kumar Jain, Gurgaon, CA. M. M. Khanna, Delhi, CA. K.A. Balasubramanian, Delhi, CA. Lokesh Gupta, Delhi, CA Sujat Soni, Delhi, CA Shashi Gupta, Delhi, CA. Vikas Gupta, Jaipur, CA. Vishnu Mantri, Jaipur, CA. Ajay Atolia, Jaipur, CA. P.D. Baid, Jaipur, CA. Jai Narayan Gupta, Kolkata, CA. Narada Prasad Sahu, Bhubaneswar, CA. Seethalakshmi, Chennai.

CA Mehul Shah, Member (IT Support)

The queries so received will be distributed amongst the members of the panel on random basis and they would reply to the same.

Disclaimer

Members are specifically informed that the views expressed by the experts would be their personal views and not necessarily the views of the Auditing and Assurance Standards Board or the Institute of Chartered Accountants of India (ICAI). AASB, ICAI or the members of the Panel, do not accept any responsibility for actions taken by the querists based on such advice.

To enable us to serve you better, you are also advised to:

  • Be brief but provide full information and facts.
  • Not to mention the name of the Bank or Branch or the name of the Borrower or depositor to avoid problem of violation of client confidentiality requirements under the ICAI Code of Ethics.
  • Avoid rejoinders.
  • Not to send the same query twice.
  • Draft the report on your own.
  • Use own judgment.

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