Bank Audit - A Practical Guide for Bank Auditors

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Description
"The ATM was just the beginning; the real revolution in banking is happening now-with Al, blockchain, and cloud computing."
"We're not just experiencing technological progress; we're living through a techno- logical explosion."
Are we living a dream? As a child, I remember trying to peek into the future while watching the very popular science fiction show "Star Trek". Today, many of those futuristic technologies envisioned in the series seem to have either become a reality or are under development. Given the rapid pace at which technological progress is happening, predicting any futuristic trend may be foolhardy as it might very likely soon become obsolete. Logically, it would make better sense to watch and learn to adapt and learn faster than the competition. I recently read about Sam Altman, CEO of Open AI sharing his vision on the transformative role of AI agents and the impact it would have on human software engineers as the AI agents would be able to complete complex computer science projects within a few days if not faster. Does this sound like a warning for mid or junior level software engineers? What about us? There are similar professions which the World Economic Forum Jobs Report identifies for obsolescence due to technological advancements including our role as Accountants, Auditors etc.
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Contents
Step 1. Appointment letter Received - what next?
Step 2. You backbone - Strong Planning
Step 3. Back Office - Start Preparing
Step 4. Reached he Branch - What do t do?
Step 5. Balance Sheet Review
Step 6. Statement of Profit and Loss
Step 7. Identification of NPAs : A Practical Overview
Step 8. Non - Performing Advances : Assessment of Provision
Step 9. Advances : Resolution of Stressed Assets
Step 10. Advances : Restructuring Demystified
Step 11. Frequently Asked Questions (FAQs)
Step 12. Important Regulatory Changes during the year : RBI Circulars Summary and Highlights
Step 13. Housing Loans
Step 14. Audit of Agricultural Advances : Made easy
Step 15. Restructuring - Natural Calamities
Step 16. IS Audit - Finacle 10 : Guidance
Step 17. Miscellaneous Guidance on other matters
Step 18. Stock Audits : Guidance
Step 19. Asset Classification : Summary of RBI Guidelines
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Author Details
Anil K. Saxena qualified as a Chartered Accountant in the year 1984 and has been in active professional practice since then. He has been practicing in the field of Audit and Assurance and during the past four decades has gathered wide range of experience in the Central Statutory Audit of Public Sector, Private Sector, Co-operative and Regional Rural Banks apart from other types of audits in the banking sector including forensic audit and Concurrent audit of CDR monitored accounts. Other than the banking sector, he has handled the Statutory and Internal/Management audits of a wide range of Companies in various sectors (Public and Government). He has successfully lead teams in the conduct of Ind AS implementation, SOX compliance, Inspection of Mutual Funds and Stock Exchanges on behalf of SEBI and development and implementation of accounting systems.
He has been actively engaged as a Chairman, Speaker, Convenor, and Member in various professional bodies and committees. Having successfully served as the President of the Kanpur Chartered Accountants' Society, he is currently the Chairman of the Information & Technology Committee and the Fiscal Committee of the Merchant Chambers of UP, Kanpur. In addition to his leadership roles, he was nominated as a co-opted member of the Corporate Laws & Corporate Governance Committee (2019-20) and the Auditing and Assurance Standards Board (2017-18) of ICAI. He has also actively participated as a member of various ICAI study groups.
He has delivered lectures on various forums across the nation as a speaker on CARO, Schedule III, Bank Audits, Accounting Standards, Standards on Auditing, Overview of IFRS/ Ind AS, Company Law, Mutual Funds and other topics of general interest including banking, macro economics and finance.