Indore: CAs have to be cautious in banks’ audit this time

Indore: Chartered accountants have to be very cautious while doing audit of banks this time as it will the first post demonetisation exercise.

This advise is being given by senior Chartered Accountant Atul Gupta while addressing  a seminar organised by local branch of Institute of Chartered Accountants of India (ICAI) here at CA auditorium on Thursday. Audit of banks are likely to start in a day or two and will have to complete before March 31.

The seminar was on banks’ audit with help of excel in computerised environment. Addressing the seminar as a key note speaker CA Gupta informed that the entire bank work has been computerised. Thus the roles of CAs have become crucial. All necessary information can be obtained in shorter time as they are stored in banks’ severs. This year banks’ audit is more important as it is the first post demonetization audit. The audit would reveal that whether the banks have followed RBI norms in banking or not even during the demonetisation period. Banks have started intimating CAs of the city to carry out their annual audit.

Chairman of the chapter CA Som Singhal said that another seminar on banks’ audit will be held on Saturday, wherein vital issues of auditing like audit of advance, tax audit, long term audit report and circulars would be discussed. In this seminar CA Anil Saxena of Kanpur and CA Gagan Jhawar of the city will be key note speakers.

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