Practical Workbook for Bank Branch Auditors Professional Book By Ishwar Chandra in paperback mode. One-stop-reference book (with Hints & Check-Lists) for branch auditors with complete & current contents. This book is written with the objective of reducing the audit risk, besides documenting the audit work simultaneously.
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Key Highlights
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One-stop-reference book (with Hints & Check-Lists) for branch auditors with complete & current contents. This book is written with the objective of reducing the audit risk, besides documenting the audit work simultaneously.
This book is useful for auditors in accomplishing their branch audit in a more purposeful manner & bringing more comfort to the Statutory Central Auditors, Boards and Management.
The Present Publication is the 5th Edition & amended up to 1st March 2021, authored by CA Ishwar Chandra, with the following noteworthy features:
- New Chapters on Audit of Special Mention Accounts & Audit of Provisioning
- 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 & ICAI Standards on Auditing have been added in the following chapters:
- Audit of Income Recognition & Asset Classification (IRAC)
- Audit of Restructurings
- Performing General Ledger & Profit and Loss Audit
- RBI’s LFAR Review has been added in the chapter of LFAR Procedures, which seeks information from banks’ head office and from 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 Restructuring of Advances
- Performing General Ledgers (GL) and Profit & Loss (PL) Audit Procedures
- Long Form Audit Reporting (LFAR) Procedures
- Tax Audit Reporting Procedures
- BASEL Verification Procedures
- Special-Purpose Certification Procedures
- Issuing Independent Auditor’s Report
Born on 10th February, 1969, commerce graduate from St. John’s College Agra, Ishwar Chandra is a Fellow Member of The Institute of Chartered Accountants of India (ICAI). He is a Chartered Accountant practicing since 1993. He holds DISA (ICAI) and Certificate in IFRS and Certificate in Concurrent Audit of Banks from ICAI. He holds CISA from Information Systems Audit & Control Association (ISACA) USA since 2004.
Mainly practicing auditing, his major work experience includes Concurrent Audit, IS Audit, Stock Audit, Income & Expenditure Audit and External Audit of various Commercial and Regional Rural Banks and Internal Audit and other assignments of PSUs/Govt. Dept.
He is an empanelled faculty with Internal Audit Standards Board of ICAI for ‘Certificate Course in Concurrent Audit of Banks’, and is also empanelled with IT Committee as Faculty for post-qualification diploma course in ISA. His approach and procedures articles on auditing of banks have been immensely published in ‘The Chartered Accountant Journal of ICAI.
He is author of Five C’s of IT Policy published in ‘Internal Auditor’ of The Institute of Internal Auditors, (USA). He has been one of the Expert Reviewers of ISACA’s CISA Review Manuals and is a contributor on auditing to ISACA. He has participated in International Federation of Accountants (IFAC) consultation paper ‘Improving Auditor Reporting’. He has delivered lectures on auditing of banks at ICAI seminars organized by CIRC, SIRC and NIRC branches/study circle and for GMCS course at Agra.
In his 28 years of professional career, he has been associated with various boards/committees of ICAI. He has been a member of one of the Financial Reporting Review Group constituted
by ICAI and has acted as lead reviewer. He is associated as Technical Reviewer with Financial Reporting Review Board, as Peer Reviewer with Peer Review Board and as Resource Person with CFMIP of ICAI. His academic associations include the Institute of Company Secretaries of India (ICSI) and the Institute of Cost Accountants of India. He is a founder trustee of Shri Rajendra Prasad Munni Devi Agrawal Memorial Trust, a registered public charitable trust.
Articles by the same author Published in “The Chartered Accountant” Journal of ICAI
- ‘What Every Statutory Branch Auditor of a Bank Should Do’, Vol. 64 No. 9, March 2016
- ‘Essentials of Report Writing’, Vol. 61 No. 2, June 2013
- ‘Statutory Bank Branch Audit: Strengthening Audit Plan’, Vol. 61 No. 9, March 2012
- ‘Conducting Statutory Branch Audit in CBS Environment: An Approach’, Vol. 61 No. 9, March 2012
- ‘Improving Risk Management and Compliance’, Vol. 56 No. 11, May 2008
- ‘Planning the Statutory Branch Audit: An Approach’, Vol. 56 No. 9, March 2008
- ‘Auditing in Core-Banking Environment: Some Special Considerations’, Vol. 55 No. 9, March 2007
- ‘KYC & Anti Money Laundering Measures’, Vol. 55 No. 3, September 2006