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My first bank audit

payal (Job) (227 Points)

09 April 2012

i'm going for bank audit first time.

Excited bt quite nervous becoz i dont knw wat to do at bank audit.

plz tell me wat 2 check at nd wat 2 do at bank concurrent audit?

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9 Replies

Abhimanyu Bind (CA Final Student & Audit Assitant) (2051 Points)
Replied 09 April 2012

Congrats for a new task. Take it positively and its also a part of our work.

And don't worry you will go with your seniors and they will guide you properly.

Bank Concurrent Audit covers all routine activities done by bank, e.g.

(1) Cash Process

(2) Handling Customer requests

(3) MIS System

(4) Inventory Management

(5) Following of various guidelines issued by RBI

(6) Credit section process and managment (i.e. Loan department) and others.

In short all activities which a bank do and provided under your scope area.

Now, how to start???

(1) You will be provided a check list read it throughly and refer the circulars nos given in the check list which are available on RBI sites and also on Bank's system.

(2)Talk to Bank employees they will explain you the procedures don't hasistate ok and your seniours are there so don't worry for anything.

Hope I have written some helpful points for you. Feel free to ask me more questions if you have. Good luck.

Regards,

Abhi

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CA Hemang Shah (PRACTICE) (658 Points)
Replied 10 April 2012

Khao,pio, dhumo and aish karo... And manager ki pungi bjao.

Student (b) (875 Points)
Replied 10 April 2012

Originally posted by : Abhimanyu Bind
	Congrats for a new task. Take it positively and its also a part of our work. And don't worry you will go with your seniors and they will guide you properly. Bank Concurrent Audit covers all routine activities done by bank, e.g. (1) Cash Process (2) Handling Customer requests (3) MIS System (4) Inventory Management (5) Following of various guidelines issued by RBI (6) Credit section process and managment (i.e. Loan department) and others. In short all activities which a bank do and provided under your scope area. Now, how to start??? (1) You will be provided a check list read it throughly and refer the circulars nos given in the check list which are available on RBI sites and also on Bank's system. (2)Talk to Bank employees they will explain you the procedures don't hasistate ok and your seniours are there so don't worry for anything. Hope I have written some helpful points for you. Feel free to ask me more questions if you have. Good luck. Regards, Abhi

Abhimanyu,

Who gives the checklist? the CA where we do articles or the bank??

payal (Job) (227 Points)
Replied 10 April 2012

Thnx Abhimanyu for ur advice

Hemang ur idea is cool bt i doubt next tme sir mujhe next tme audit par le bhi chalege ya nahi.

Abhimanyu Bind (CA Final Student & Audit Assitant) (2051 Points)
Replied 10 April 2012

@ Kirti- Actually, bank will give detailed guidelines and scope for Audit, now its on CA FIRM to prepare a checklist for the Audit on the basis of that guidelines.

@ Payal- You are Most Welcome Payal. And Which bank Audit is it???? If its ICICI Bank audit then I can help you more because I have did this for 1.5 years and also my current CA firm is connected with ICICI Bank Internal Audit.

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payal (Job) (227 Points)
Replied 15 April 2012

bank audit ho gaya.

nd it was statutory audit, nt concurrent audit.

@ Abhimanyu , SBI ka audit tha .

such a nice xperience but also tiresum, i men late nite wrkng hr and travelling.

nw back 2 home aftr 4 dy of audit

Sumit Raheja (ca) (21 Points)
Replied 24 May 2012

From where i get cheak list ? and how to cheak from finacle software ?

prateek kapoor (student) (135 Points)
Replied 25 May 2012

well Abhimanyu Bind,which icici branch u handle.do tell.my firm also has a vast concurrent audit experience.revenue leakage is our favorite activity espcailly using finacle software