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Practical Workbook For Bank Branch Auditors

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This book is a one-stop-reference manual cum audit notebook (with Hints & Checklists) for statutory branch auditing with complete & current contents. It helps branch auditors understand ‘what to do’ (based on statutory requirements & RBI Guidelines) & how to do’ (based on ICAI Standards on Auditing & current CBS environment) besides the simultaneous documentation of procedures

Description

Description
One-stop-reference manual cum audit notebook (with Hints & Check-Lists) for statutory branch auditing with complete & current contents. This book is written to reduce the audit risk, besides documenting the audit work simultaneously.

This book is helpful for branch auditors in accomplishing their branch audit more purposefully & bringing more comfort to the Statutory Central Auditors, Boards and Management.

The Present Publication is the 6th Edition & amended up to 1st March 2022, authored by CA Ishwar Chandra, with the following noteworthy features:

[New Chapters] have been added in this book, which are as follows:
Audit of Provisioning
Audit of Resolution of Stressed Assets
Audit of Restructurings including the following:
Agriculture
MSME Advances covering RBI Resolution Framework – 1.0 & Resolution Framework 2.0
[Complete & Current Contents]
New Directions for Banks on Financial Statements Presentation and Disclosures [30th August 2021]
New Master Circular on Income Recognition, Asset Classification and Provisioning (IRACP) [1st October 2021]
Various other new Directions were issued by the RBI in 2021
[Revised Chapters on CBS Environment] Useful System Generated Reports & CBS reports, which are helpful for the auditors (which are also available in Finacle 10, BaNCS and Flexcube), have been added
[Changes made by RBI’s Extant Guidelines] have been added in the following chapters:
Audit of Capital Adequacy
Special-purpose Certifications
[RBI’s LFAR Review] has been added in the chapter of LFAR Procedures, which seeks information from banks’ head office and the branches; various formats suggested to collect the information have been modified based upon such new audit requirements
[Procedures for Accepting/ Planning/ Performing and Reporting an Audit] along-with audit procedures for Branch Audit/ LFAR/ Tax Audit and Special Purpose Certifications
The contents of the book are as follows:
Introduction to Audit of Financial Statements
Pre-Acceptance Procedures
Post-Acceptance Procedures
Planning Considerations
CBS Environment: Useful System Generated Reports
Offsite Planning
Onsite Planning
Performing Preliminary (Routine) Audit Procedures
Audit of New Advances
Audit of Credit Monitoring
Audit of Special Mention Accounts (SMA)
Audit of Income Recognition and Asset Classification
Audit of Provisioning
Audit of Resolution of Stressed Assets
Performing General Ledgers (GL) and Profit & Loss (PL) Audit Procedures
Long Form Audit Reporting (LFAR) Procedures
Audit of Capital Adequacy
Special-Purpose Certification Procedures
Issuing Independent Branch Auditors’ Report

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