Description
Taxmann Publications Practical Workbook For Bank Branch Auditors by Ishwar Chandra
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 brancher, 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
About the author
Ishwar Chandra
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