Good self comments. We are responsible for not doing proper Audit of Banks.
Some time back I had given my own experience of End use of Fund by bank. In short let me tell you. Along with me there were more than 10 C A Firms of Ahmedabad doing same work of the Bank with different units. All other than me reported NIL qualification. Every thing fine and correct!!!!
Mine was very difficult task . I reported over drawing the limit , penal interest of Rs 135000 / more than my fees paid. Some of the machinery were included in stock statement???!!!
All other were there inn next year. When I inquired about my case , the officer of the Bank told me on face and bluntly that Bank do not require my services!!!!!!
This is also other side. But I would say that come what may , you should do your duties diligently and fully.
CAShah D J
On Wednesday, February 25, 2015 11:35 PM, "pvrg2000@gmail.com [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote:
If all of us do an effective audit of banks, the banks will appoint few CA firms like LIC to do central and branch audits and done away with the headache of appointing many CAs in all over Country. It will come soon.
Tell me which auditor firm had come out with serious qualification in bank and PSB audits? We are not doing the proper audit so every one is treating us like peanuts
Failure of large borrowers coming out because the stress in this accounts were not looked by all audits in time and halted the quantum of failure
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Posted by: Dipakkumar Shah <cadjshah@yahoo.com>
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