Indore: 'Auditor Must Ensure That Govt Guarantee Has Not Been Withdrawn'

Indore (Madhya Pradesh): The default of loans given against the guarantee of Central and State Governments are not properly classified many times. The auditor must ensure that the government guarantee has not been withdrawn. All circulars should be studied, said, CA Gopal Dhakan, from Surat while addressing on the first day of the two-day conference on bank audit that began here on Friday.  

It is being organised by Indore CA branch under the aegis of Professional Development Committee of Delhi. Delivering the welcome address CA Indore branch chairman CA Atishay Khasgiwala said that in the time of power business intelligence (BI), data analytics and technology, both auditing and finding mistakes in it has become an efficient task. Now the auditor has to go deep into the system and find mistakes.

In view of the increasing NPA in the bank, it is the responsibility of the banker as well as the auditor to thoroughly analyse each file and consider it from every angle. Due to competition among banks, mistakes are made in paperwork due to haste, it is very important to complete all the documents on time.

CA Anil Saxena, who came from Kanpur, advised to collect all documents at the time of audit. He said that the auditor is the softest target, fraud is detected later, at such times the documents collected during audit are very useful. CA Saran Kumar from Hyderabad gave a lecture on how to conduct audit, generate reports and analyse them through Excel. He said that in CBS environment, all the reports of the bank can be extracted from the system and analysed through Excel.

Professor Kapil Suri, regional member CA Kirti Joshi and former president Anand Jain also addressed the conference. Various sessions of the conference were conducted by secretary Amitesh Jain, Swarnim Gupta and CA Mausam Rathi. Over 500 members from the entire state including Indore, Dewas, Ujjain, Khargone, Khandwa, Patan and Jabalpur were present at the conference.