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    Published On : Thu, Mar 26th, 2015
    Business News | By Nagpur Today Vidarbha Today

    “Auditors play crucial role in enhancing the credibility of banks”


    All though Banking sector has changed a lot in recent times and Banks are passing through a very difficult phase due to NPA. In this scenario Chartered Accountant since Auditors play crucial role in enhancing the credibility of banks said Deputy General Manager of Union Bank of India, Nagpur D.K. Sood, while speaking as the Chief Guest at the Bank Branch Audit Seminar, organized by Nagpur Branch of ICAI. He further said that we have gained lot of knowledge from CA fraternity. We would be working day and night to co-operate with Auditors to finalize the Audit well in time, he added.

    Guest of Honour Assistant General Manager Andhra Bank, Nagpur Ramesh Ramteke who expressed that CAs are part of development of banking system. He emphasized that due to advert of technology the scenario in banking industry has been dynamic and fast changing. He requested the CA community to help the banks to cope up with the dynamic changing scenario.

    Past President, ICAI, CA. Amarjit Chopra in his key note address said that Auditors of private bank perform audit without doing the branch audit and so would be with Nationalize Bank. We should concentrate on forensic Audit. He appraised members with various new initiatives taken up by ICAI for development of the profession.

    Regional Council Member, WIRC CA. Julfesh Shah in his remarks appreciated the efforts of Nagpur Branch in carrying out various activities for the benefit of members. He congratulated Nagpur Branch & Nagpur WICASA for WIRC Award. He further said that last decades there have been may changes in banking. The role of CAs is not just of auditor but is a complete solution provider. The policy for appointment & allotment of Bank Auditor is changed. He briefed the audience about the detailed policy of RBI with regard to appointment of Auditor. The metamorphosis that the Indian Banking sector is witnessing is unbelievable. The dimension of the banking operations has not only increased but also diversified & has grown manifold. This has necessitated the banking sector for revising the systems and procedures and put in place new strategies interfaced with the technology.

    Earlier Chairperson of Nagpur Branch CA. Kirti Agrawal in her welcome address said that today banking sector have fairly been matured in terms of supply and reach and so is also exposed to Risk. We all must utilise this opportunity to update our self on how to audit financial statement which is just not a regulatory requirement but of immense value just not to auditees but also to banking regulators i.e. RBI. The theme given by Honorary President of Spearheading the Excellence and Hon WIRC Chairman of Empowering Excellence, this Year Nagpur branch will be following the theme of Potential Unlimited.

    The reason for choosing the theme is that each one of us has Unlimited Potential, Potential to explore avenues for self, Potential to think beyond ordinary Potential to Reach and fulfill all our dreams, because I always go with a believe that if one can think then one can achieve.

    In the First technical Session CA. Amarjit Chopra, Past President, ICAI, Presented his paper on Audit of Advances & Prudential Norms and CA. Charudutt Marathe from city presented his paper on Audit through Core Banking Solutions (CBS). In the second technical session CA. Atul Bheda, from Mumbai presented paper on LFAR & other Certifications. All the speakers resolved various queries of the participants in most effective manner.

    CA. Umang Agrawal, Treasurer co-ordinated the inaugural session. Secretary of the Branch CA. Sandeep Jotwani proposed formal vote of thanks. Prominently present on the occasion were  Amaraendra Kumar Jha, AGM, Union BankCA. Ashwini Agrawal, CA. Swapnil Agrawal, CA. Suren Duragkar, CA. Kirit Kalyani, CA. Aniruddha Shenwai, CA. SPS Shukla, CA. Priyanka Sharma, & more than 300 Chartered Accountants.
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