EXPERT PANEL FOR ADDRESSING QUERIES ARISING DURING BANK BRANCH AUDITS

FOR THE ATTENTION OF THE MEMBERS – EXPERT PANEL FOR ADDRESSING QUERIES ARISING DURING BANK BRANCH AUDITS FOR YEAR ENDING 31ST MARCH 2012 

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 Audit. These could include determination of NPA status,  implications of complicated data found in a branch audit, unavailability of any relevant RBI circular, implications of the requirements of an RBI circular, nature and adequacy of documentation, possible wordings of the audit report on some important matters in branch audit, issues relating to LFAR, etc.

With a view to support our members for fast resolution of such queries, the Auditing and Assurance Standards Board and the Committee on Information Technology are pleased to offer an Online support to our members from 26th March, 2012 to 10th April, 2012 for the bank branch audits for the year ended 31st March 2012. The queries can be sent at bankauditfaq@icai.org.

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

Panel Coordinators

CA Abhijit Bandyopadhyay, CCM and Chairman, Auditing and Assurance Standards Board

CA Atul Bheda¸ CCM and Chairman, Committee on Information Technology

CA Rajkumar Adukia, CCM, CA Manoj Fadnis, CCM, CA Jayant Gokhale, CCM, CA Sanjeev Maheshwari, CCM, CA. Shriniwas Joshi, Member, WIRC, CA. Mehul Shah, Member (IT Support)

Other Members on the Panel

CA Abhay Kamat, CA Abhijeet Sanzgiri, CA Anagha Thatte, CA Ashutosh Pednekar,

CA Dhananjay Gokhale, CA Dilip Dixit, CA Giriraj Soni, CA I.B. Sonawalla, CA. ketan Saiya,

CA Ketan Vikamsey, CA Makarand Joshi, CA Manoj Daga, CA Mitil Chokshi, CA Mrudul Gokhale,

CA Niranjan Joshi, CA Nitant Trilokekar, CA Parag Hangekar, CA Prakash Kulkarni , CA Ramesha Shetty,

CA Sandeep Welling , CA Sanjay Rane, CA Uday Sathaye, CA Vipul Choksi

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 may specifically be informed that the views expressed by the experts would be their personal views and not necessarily the views of the Institute of Chartered Accountants of India. The Institute or the members of the Panel, in any case, would not take any responsibility of actions taken based on such advice.

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

• Be brief but provide full information and facts.

• Do not mention the name of the Bank or Branch to avoid problem of violation of confidentiality.

• Avoid rejoinders, if possible.

• Do not send the same query twice.

• Draft the report on your own.

• Use your own judgment.

Source- ICAI