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ICAI Journal is the media where ICAI shares its views and vision on Accountancy Profession.
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ARTICLES ON BANK AUDIT: 1.
Expectations of Central Statutory Auditors from Bank Branch Auditors
The Branch Auditors' roles include-
1. Certifications required by RBI
2. Audit under Income-Tax Act
3. Issue of Statutory Audit Report
4. Ghose and Jillani Committee recommendations report.
5. Long Form Audit Report
Branch Auditors' Specific Attention:
1. Software Control
&
2. Manual Control
March 2015/p83
Techniques and tools
of forensic audit
1.
Benchmarking –
comparing one financial period with another or the
performance of one cost centre, or
business unit, with another, overall
business performance with its standards defined.
2.
Ratio analysis –
used to identify
any abnormal trends and changes.
3.
System analysis – to examine the
systems in place and identifying any
weaknesses that could be opportunities for the fraudsters.
4.
Specialist software- like audit tools
for data matching analysis can prove
very useful.
5.
Exception reporting –
that generates automatic reports that unchangeable
for results that fall outside
of predetermined threshold values,
enabling immediate identification of
results deviating from the norms.
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