Pune: “Banking sector and Chartered Accountants have a substantial contribution to the fastest growing Indian economy. Transparent & secure audit of economic transactions is one of the essential factors. CA’s are playing a very important role in conducting an accurate & transparent audit from branch to the central level,” asserted Satish Marathe, Director – Reserve Bank India (RBI).
Marathe was addressing a gathering of CA’s after the inauguration of a two-day National Conference on ‘Statutory Audit of Bank Branches’. This conference has been organized by the Auditing & Assurance Standard Board of the Institute of Chartered Accountants of India (ICAI) & hosted by the Pune branch of WIRC of ICAI at Swami Vivekananda hall, MIT, Kothrud.
CA Ranjan Kumar Sharma – DIG (CID), CA Chandrashekhar Chitale, Central Council Member, CA Rajesh Agrawal, Chairman of Pune ICAI, CA Amruta Kulkarni, Vice-chairperson, CA Ajinkya Randive, Secretary, CA Hrishikesh Badve, Treasurer, Members CA Pritesh Munot, CA Sachin Miniyar, CA Pranav Apte were present at the inauguration ceremony.
Satish Marathe said, “An empowered and transparent banking system is needed for the rapidly growing economy in the future. Economic interruptions can be avoided by following RBI guidelines and implementation of ‘risk based audit’. While performing a fearless audit, the CA’s should make a clear statement in the audit report regarding lacunas or malpractices, in the concerned organization, if any.”
“CA’s has an important role to play in imparting assurance comfort to the customers, shareholders, and others related to the bank. This will create unwavering faith of customers in the bank helping empowerment of the economy. The Indian economy is marching towards grabbing the position of the world’s third-largest economy. Ultra-modern technologies like AI are proving useful in this regard,” Marathe advised.
CA Ranjan Kumar Sharma said, “In the event of economic malpractice, the auditor’s name is also included along with directors and employees of the company. This degrades the image of auditors. The auditors should play the role of a ‘watchdog’ to avoid this situation. They should boldly jot down their observations to avoid discrepancies in the future.”
CA Chandrashekhar Chitale said, “This conference is a knowledge bank on tips to keep in mind while auditing. The auditor plays the role of keeping the credit and economic status of the bank. Hence, clarity while performing the audit is essential.”
CA Rajesh Agrawal said, “CA’s have the responsibility to empower the Indian economy. Hence the Pune chapter consistently organizes innovative and useful programs to impart knowledge about changing economic situations and systems.”
CA Pritesh Munot compared the program while CA Ajinkya Randive offered a vote of thanks.
