Bhopal: Blockchain technology will change future of banking

Bhopal: Blockchain technology will change future of banking

Staff ReporterUpdated: Wednesday, May 29, 2019, 12:47 AM IST
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The requirement of Audit Planning by CA’s with respect to Statutory Bank Audits was explained by CA Nayan Kothari from Vadodra at a two day long National Conference on Bank Audit, A Companies Act and GST. The conference was organised by the Bhopal branch of the Institute of Chartered Accountants of India at Samanvaya Bhawan on Saturday.

The conference was inaugurated by the chief guest State Bank of India chief general manager Rajesh Kumar.  He explained how blockchain technology is going to change the future of banking in India.  Bhopal Branch chairman CA Mayank Agarwal , gave the inaugural speech on the occasion. He briefed the audience about the growing importance of the role of chartered accountants in the present regulatory scenario of Bank Audits and Companies Act.

CA Nayan Kothari from Vadodara, was the first speaker of the 1st Technical Session. He deliberated upon the key issues related to Bank Audit. In order to acquaint the members with the pressing issues faced while conducting Bank Audit, he gave suitable case studies to classify Advances as NPA. He also emphasised on the importance of stock statements while calculating DP in case CC limits of businessman.

CA Abhay Chhajed, from Bhopal, was the second speaker for the 1st Technical Session. He informed the gathering of members about the growing importance of audit documentation in compliance with the Standards on Auditing (SA) issued by ICAI. He reiterated that as the expectation of Government and Stakeholders from the Chartered Accountants are growing with respect to the increasing menace of NPA across the banking sector, so is the importance of proper documentation increasing.

The programme was attended by more than 500 Chartered Accountants. On this occasion, CA Zuber Ullah Khan , vice chairman, CA Samank Mohabe , treasurer, CA Anshul Agrawal, CICASA chairman, CA Pradeep Mutreja and CA Aditya Shrivastava, managing committee member and others were also present.

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