bank audit

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Querist : Anonymous (Querist)

20 November 2010 what prepartions are required for bank audit? when do a newly qualified CA is given a bank audit?

CA. BHAVIK DILIPBHAI MEHTA

CA. BHAVIK DILIPBHAI MEHTA (Expert)
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23 November 2010 Newly qualified C.A. does not normally get statutory audits before 3 years from the time he applies for the COP. Regarding Concurrent audits, you normally do have to have partnership with FCA preferable with ISA qualification. You yourself can be ISA qualified.

Regarding the preparation of bank audits, you need to check out the previous auditors report like statutory audit report, concurrent auditors report. Banks also have their own internal audit inspection. The same can be checked as well. Please go through the RBI guidelines before starting bank audits & visit the circulars of Bank whose audit you are normally undertaking.

Thanks.

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