Creating a Common Pool of Materials/ Presentations/ Checklists / Circulars useful for Statutory Bank Audit :
Now next few weeks are crucial for practicing Chartered Accountants who have been allotted the statutory audit of Bank. The time is short and enormous responsibility is cast upon as auditor. In this scenario, planning and best utilisation of resources is key to perform the audit in this timelines.
To refresh and abreast with latest changes/challenges, first thing was done in my office to compile the circulars, material, presentation, checklist and other important documents that may be of important help in planning, execution, working paper documentations and reporting.
To minimise the efforts of all Chartered Accountants engaged in Bank Audit, there is need to create a common resource pool of all Checklists, RBI Circulars, Materials and other documents so that there is no duplicate of the efforts of CA community. With this sole objective to support CA fraternity, the useful resources on bank audit compiled at one place are shared on dropbox for all to use.
More than 100 files of documents/files relating to Bank Audit are stored in 5 folders/categories. The following is overview of the folders/files stored in resource.
Bank Audit Planning and Annexures (Excel), LFAR Checklist (Excel), Bank Audit Format (Excel) and Checklists (pdf),
(2) ICAI Material
ICAI Guidance Note on Bank Audit Ed. 2018, WIRC Manual 2018 – Compiliation of Articles, Relevant Articles relating to Bank Audit published in ICAI Journal
Various Presentations and material of faculties/experts on Bank Branch Audit classified into Advances Related, LFAR/Reporting/Planning related, General_Overall and Others
(4) RBI Circulars
All relevant circulars issued during the year 2017-18, Master Circular and Master Directions
(5) Software Guidance
Materials and presentations related to Finacle, CBS and other software.
Link to Bank Statutory Audit 2017-18 Resource:
I am sure that this will be beneficial to large number of Chartered Accountants, with access of all relevant bank audit material at one place and reducing the time of compilation, making it quick and easy access to the files/documents required for efficient bank audit!
Please comment here, if you like this initiative to create common resource pool for all Chartered Accountant or if any file /document to be added /removed from the resource.