Banks - Stock Audit and Concurrent Audit.

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Anil (Querist)
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10 March 2008 1)Does the Nationalised banks nomally give guidance papers( papers informing which particular areas are to be checked) and policy papers to CA firms which are alloted Stock Audit or Concurrent Audit?

2)What are the websites from where exahustive information regarding stock audit and Concurrent Audit of banks can be obtained?

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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10 March 2008 SEARCH ON GOOGLE

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
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10 March 2008 yes for concurrent audit the bank sets a questionaire which has to be checked and report.

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Anil

Anil (Querist)
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12 March 2008 1)Is assignment of concurrent audit to a CA firm left to the descretion of the concerned branch manager of the bank?

2)Who is eligible to do a concurrent Audit? Does a CA need have COP to do concurrent Audit?

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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12 March 2008 1. IT IS NOT ON THE DISCRETION OF BRANCH MANAGER, CONCURRENT AUDITOR IS APPOINTED BY TOP LEVEL MGT OF BANK LIKE GM & OTHERS.

2.AUDIT CAN ONLY BE CONDUCTED BY PERSON HAVING COP