Feedback From 8th Certificate Course on Concurrent Audit of Banks

[Pradeep Gupta]

Dear Sir,

On behalf of 8^th Batch of Certificate course on Concurrent Audit of Banks, I am sharing the following feedback received from batchmates.

1.      Participants feel that following topics were not covered which were originally scheduled in the course.

·         The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

·         The Negotiable Instruments Act, 1881

·         The Bankers Book Evidence Act, 1891

·         The Credit Information Companies (Regulation) Act, 2005

·         The Transfer of Property Act, 1882

·         The Recovery of Debts Due to Banks and Financial Institutions Act, 1993

·         The Indian Stamp Act, 1899

·         The Powers of Attorney Act, 1882

·         The Registration Act, 1908

·         Service Tax in Banks

·         Mobile Banking

·         Documentation – Standards & procedure

·         Adherence to Auditing Standards & SIA

·         Quality control

·         Rules and Regulations governing Treasury Function in Banks

·         Cash and Investment Management Function

·         Asset and Liability Management Function

·         Concurrent Audit Procedures : Advances

·         Rules and Regulations governing Advances

·         Checklists and model reporting format

·         Statement of Irregularities in Advance Account

·         Basel II and RBI Master Circular            

2.      Many of the participants didn’t got the study material until the 5th Day of the course.

It is humbly submitted that knowing the time constraint given to us it would be better to extend the course by a day or two and have some subject expert on to deliberate on these. We would like to have additional session on above topics. Kindly revert at your earliest.

 

Thanks & Regards,

Pradeep

 

PRADEEP GUPTA

Batch Coordinator – Eighth Batch of Certificate course on Concurrent Audit of Bankc

Mobile +91 9172809908

pradee...@gmail.com

 

 

[canipunsinghvi]

Thanks Pradeep for exceptional work.Hope IASB considers our request

CA Nipun Singhvi

[Pradeep Gupta]

Dear Amit,

 

Hope this issue was raised in yesterdays interaction with Adukia ji and the action taken on the same resolves the concerns raised by you. Nipun is working on the topics to covered on the extended dates. We will definitely try to cover this. However on an interaction with  one of the faculty regarding the master circular, he has the opinion that covering all master circulars are too extensive, and the participants should take the initiatives to read them first and if they feel some circulars complex then that can be discussed in the class.

 

 

Thanks & Regards,

Pradeep

 

PRADEEP GUPTA

Mobile +91 9172809908

pradee...@gmail.com

 

 

From: Amit Damle [mailto:ca.ami...@gmail.com]
Sent: 06 January 2013 09:42 AM
To: Pradeep Gupta
Subject: Feedback From 8th Certificate Course on Concurrent Audit of Banks

 

Dear CA Pradeep Gupta (Course CoOrdinator - 8th Batch of Certification course on concurrent audit of banks ) 

 

Concurrent audit process is regulated by 1) Regulator guidelines/ circulars and 2) Bank polcies 3) SAs issued by institute wherever applicable

 

Its obvious that all banks may have different internal policies within regulator framework and hence it can not be covered fully

SAs issued by ICAI are for members to access and apply wherever applicable 

 

The remaining area is covered under RBI's master circular of July2,2012

All the faculties referred to the circular and couple of them actually displayed and explained a particular part of the circular.

 

So when as a participant of "concurrent audit of banks" course when I think of - what is left   to be taught which will give real insight of audit is THE MASTER CIRCULAR  - point by point at least once.

 

So apart from contents mentioned below - i feel THE MASTER CIRCULAR itself need to be elaborated/ dicussed - atleast the points of circular which alsmot all concurrent auditors come across while puting the foot down.

 

This is personal view for your perusal  and to be forwarded of discussed if deem fit

 

Thanks

Regards

ACD

[Amit Damle]

Dear Pradeep / Nipun 

Ok. 

Noted.
I understand after discussion -

that there will be exhaustive list of circulars - 

faculties would be covering important / regularly applied circulars - 

Remaining are to be read by participants and can be discussed in the form of specific questions sent in advance.

Thanks

Regards

ACD