AUDITING & ASSURANCE STANDARDS BOARD CONSTITUTES EXPERT PANEL FOR ADDRESSING BANK BRANCH AUDIT RELATED QUERIES FOR THE FINANCIAL YEAR 2015-16

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 Audits. 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 RBI circular, nature and adequacy of documentation, possible wordings of the audit report on some important matters in bank 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 (AASB) is pleased to offer an Online support to our members till 15th April, 2016 for the bank branch audits for the year ended 31st March 2016. 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. Bhagwan Das Gupta, Delhi, CA. Ajay Kumar Jain, Gurgaon, CA. M. M. Khanna, Delhi, CA. K.A. Balasubramanian, Delhi, CA. Jai Narayan Gupta, Kolkata, CA. Narada Prasad Sahu, Bhubaneswar, CA. Vikas Gupta, Jaipur, CA. Vishnu Mantri, Jaipur, CA. S. Ramakrishnan, Chennai, CA. Lokesh Gupta, Delhi, CA Sujat Soni, Delhi, CA Shashi Gupta, Delhi.

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

CA Mehul Shah, Member (IT Support)

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 and 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.

(Source- ICAI)

Posted Under

Category : CA CS ICWA (3093)
Type : News (11053)
Tags : Audit (413) ICAI (1910)
  • S R Mundra

    Sent query but got no response even after passing 2 days