Taxmann Bank Audit A Practical Guide For Bank Auditors By Anil K.Saxena Edition March 2023

This book is a practical & sequential guide for Bank Auditors for on-field issues. It guides the readers through the entire process of bank audits, supplemented with audit checklists. The objective of this book is to be solution-oriented to the practical pain points of the audit team.

This book will be helpful for Statutory auditors of bank branches, bankers, articled assistants, etc.

The Present Publication is the 6^th Edition and has been amended upto 25^th February 2023. This book is authored by CA Anil K. Saxena, with the following noteworthy features:

• [Audit Check Lists & Procedures based on Authors’ Experience] of over four decades to ensure that even a first-timer could efficiently carry out and document any banking assignment with ease together with complying with the relevant ‘tech­nical standards’
• [Practical Tips, Documentation Guidelines & Easy to Use Templates] are provided in this book
• [Practical Overview for Identification/Provisioning of NPAs] that will help audit teams take care of the most important aspect of any bank branch audit is given in this book
• [Guidance on Agriculture Loans with Practical Templates] has been included in this book
• [FAQs Based on Actual Practical Issues] covering the entire gamut of Branch Audits, are included in this book
• [Complete Guidance on Finacle Transactions Codes] are included in this book
• [Practical Examples for Complex Audit Procedures] has been included in this book to help audit teams execute and understand the audit procedures
• [Regulatory Changes Made During the Year] has been incorporated to ensure that the audit teams are updated with the latest regulations
• [Comprehensive Guidance] covering the following points:
• Audit Report
• Long Form Audit Report (LFAR)
• Certification on ALM, Ghosh & Jilani Committee Recommendations
• Stock Audits

The structure of the book is as follows:

• The Book has 19 Steps covering various stages of a bank branch audit
• The book has 12 Appendix containing 11 templates which audit teams can use during their audits, including a comprehensive ‘Audit Programme’ and also a ‘Pre Sign Off Checklist’
• Footnotes at the end of each Audit Step containing important information are marked for the benefit of the readers
• Footnotes at the end of each Audit Step containing important documentation advisory are also marked for the benefit of the readers
• Each step has been named and styled in a manner which would help the audit teams to understand the content, thereof
• Step 1 is styled as ‘Appointment Letter Received – What Next? This guides the audit teams as to what they need to do after receiving the appointment letter
• Steps 2 and Steps 3 not only discuss the importance of planning for the bank branch audit, but also give practical guidance along with necessary templates for execution and documentation
• Step 4 takes the practical guidance to the readers a step ahead by asking Reached the Branch – What do I do? This step discusses exactly what members need to do on reaching the branch
• All other steps in the book are similarly structured to help readers and audit teams not only understand the methodology but also execute the entire assignment with ease and perfection

The contents of the book are as follows:

• Step 1 – Appointment letter Received – What next?
• Step 2 – Your backbone – Strong Planning
• Step 3 – Back Office – Start Preparing
• Step 4 – Reached the Branch – What do I do?
• Step 5 – Balance Sheet Review
• Step 6 – Statement of Profit & Loss
• Step 7 – Identification of NPAs | A Practical Overview
• Step 8 – Non-Performing Advances |  Assessment of Provisions
• Step 9 – Advances | Resolution of Stressed Assets
• Step 10 – Advances | Restructuring Demystified
• Step 11 – Frequently Asked Questions (FAQs)
• Step 12 – Important Regulatory Changes during the year | RBI Circulars Summary and Highlights
• Step 13 – Housing Loans
• Step 14 – Audit of Agricultural Advances | Made Easy!!
• Step 15 – Restructuring – Natural Calamities
• Step 16 – IS Audit – Finacle | Guidance
• Step 17 – Miscellaneous Guidance on Other Matters
• Step 18 – Stock Audits: Guidance
• Step 19 – Asset Classification: Summary of RBI Guidelines

About the Author

Anil K. Saxena qualified as a Chartered Accountant in the year 1984 and has been in active professional practice since then. He has been practicing in the field of Audit and Assurance and during the past three decades has gathered wide range of experience in the Central Statutory Audit of Public Sector, Private Sector, Cooperative and Regional Rural Banks apart from other types of audits in the banking sector including forensic audit and Concurrent audit of CDR monitored accounts. Other than the banking sector, he has handled the Statutory and Internal/Management audits of a wide range of Companies in various sectors (Public and Government). Apart from having handled specialized assignments relating to SOX compliance, Inspection of Mutual Funds and Stock Exchanges on behalf of SEBI, he has also handled assignments relating to development and implementation o

accounting systems. He has been very active as a Chairman, speaker, convenor and member in arious professional bodies and Committees. He was the President of the Kanpur Chartered Accountants? Society during the year 2006-07. He has delivered lectures on various forums as a speaker on Bank Audits, Revised Schedule VI, Accounting Standards, Standards on Auditing, Overview of IFRS, Company Law, Mutual Funds and other topics of general interest including banking, macro economics and finance. He is currently on the panel of Technical Reviewers with the Quality Review Board and also the Financial Review Reporting Board of the ICAI. A keen cricketer and sportsman, he represented the cricket team of Hyderabad Public School, Hyderabad for four years. He has an ear for music and loves spending time on books, sports and travelling.