A Seminar on Bank Branch Audit was held on March 15.

CA. Sudhir K. Agarwal, Chairman, NIRC of the ICAI, at the outset, welcomed the dignitaries, guest speakers and participants at the Seminar. The Seminar was inaugurated by Shri Alok K, Misra, Chairman and Managing Director, Oriental Bank of Commerce by lighting the traditional lamp . In his welcome address, he expressed his sincere gratitude and thanks to the Chief Guest and guest speakers for accepting the invitations of the NIRC to be present at the seminar inspite of their busy schedule. He mentioned that over a period of time, the activities of banking industry have largely expanded and the banks are at presently engaged in multifaceted transactions. He also mentioned that there were two technical sessions at the Seminar.

Shri Alok K. Misra, Chairman and Managing Director, Oriental Bank of Commerce, during the course of his address, shared his experiences and expectations from the auditors undertaking audit of banks. He mentioned that the role of Chartered Accountants, in the above context assumes importance as they are the ones who are to undertake audit assignment and to complete the same and present their considered report thereon on timely basis.

CA. Manoj Fadnis, FCA, Central Council Member, ICAI was the Chairman in the first technical session, then outlined the issues relevant to the topics of the session. He took the deliberations and addressed the members on Audit Planning and Documentation. He also gave expert opinion. CA. S. Ravi, FCA Guest Speaker, spoke on Audit of Advances Fund and Non-Fund Based Documentation. CA. Sanjay Vasudeva, FCA, Guest Speaker, led the deliberations on Income Recognition Assets Classification and Provisioning. The proceeding of the first technical session was conducted by CA. Sukhen Pal Babuta, Secretary, and NIRC of the ICAI. and vote of thanks was proposed by CA. Durga Das Agrawal, Vice-Chairman, and NIRC of the ICAI.

CA. Vinod Jain, Central Council Member, ICAI, Chaired the second technical session. Initiating the proceedings of the session, he briefly spoke on the topic on BASEL II and Asset Liability Management (ALM) and also led the deliberations of the Seminar.

Thereafter, CA. Ajay Jain, FCA, Guest Speaker addressed on LFAR and Ghosh Jhalani Report and CA. Navin Khandelwal, FCA led the deliberations and initiated on IT Rebridge and Core Banking Solutions. The Guest Speakers answered queries of the members.

The proceeding of the Second Technical Session was conducted by CA. Bhagwan Dass Gupta, Executive Member, NIRC of the ICAI and vote of thanks was proposed by CA. Mohan Mittal, Executive Member, and NIRC of the ICAI.