WITH the potential of increasing bank frauds and misappropriations, additional responsibility has been put on the shoulders of Chartered Accountants (CAs) this year. Thus, the bank auditor is expected to be more vigilant, careful and elaborate in reporting and checking. This was disclosed by CA Manish Gadia, Chairman of Western India Regional Council of ICAI while speaking as chief guest at the session on ‘Just before bank branch audit’ organised by Nagpur Branch of ICAI.
He further said, “The banking system in India is robust by its bylaws and regulated by Reserve Bank of India. CAs are the backbone of Indian economy. It is the CAs that give confidence to citizens regarding the economic well-being of Indian banking system. That’s the reason CAs are termed as --Saviours of Indian economic health.”
CA Gadia expressed his happiness that Nagpur Branch is the first branch to welcome Team WIRC at the start of its 70th year. He motivated CA members to inculcate all possible measures to bring in more transparency and integrity in the Indian banking system.
The ‘CA Students COVID Helpline’ was inaugurated by the hands of Gadia during the event. This helpline would help CA students and their family members as regards problems faced during the COVID pandemic. CA Gadia praised this unique initiative of WICASA Chairman CA Jiten Saglani.
CA Drushti Desai, Vice Chairman, WIRC of ICAI appreciated the Bank Branch Audit Helpdesk developed by Nagpur Branch wherein expert CA panellists are nominated to help the CAs during bank branch audits.
CA Arpit Kabra, Secretary, WIRC congratulated Nagpur Branch for bagging first prize in entire region of WIRC during the year 2020-21.
CA Jayesh Kala, Treasurer of WIRC said, “Bank auditors need to be more vigilant this year with specific border line cases wherein interest has not been served by the borrower and NPA norms have been amended by RBI. The changed LFAR intricacies and reporting were also explained.
CA Saket Bagdia, Chairman Nagpur Branch praised the efforts taken by WIRC for the benefit and overall development of members of the entire region.
CA Abhijit Kelkar, Regional Council Member said, “CAs are true assets for the economic revival of the country”.
He appreciated that members have high regards towards profession and requested them to be more analytical and vigilant while doing the bank audits.
Other panel speakers of the session CA (Dr) Dilip Satbhai, CA Rushikesh Deshpande and CA Nitin Sarda discussed various critical aspects related to bank branch audits during this pandemic situation.
The session was coordinated by Past Chairman CA Suren Duragkar. CA Sanjay M Agrawal, Secretary of the branch proposed the vote of thanks. Present were CA Jiten Saglani, Vice Chairman, CA Akshay Gulhane, Treasurer, CA Kirit Kalyani, Immediate Past Chairman and more than