‘Strong Banking Sector Indispensable For Maintaining Momentum Of Economic Growth’

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JAMMU — J&K Branch of the NIRC of the Institute of Chartered Accoun­tants of India organized a seminar on Statutory Audit of Banks and Usage of Commands in FINACLE-7 Software which was presided over by the Chair­man & CEO of J&K Bank Parvez Ahmed as Chief Guest on the occasion and senior Chartered Accountant Niran­jan Joshi as the Guest Speaker & Key resource on Statutory Audit of Banks.

“It is my strong belief that to main­tain the momentum of economic growth in India, it is of utmost im­portance to ensure that banking sec­tor stays healthy, safe and sound. For safe and sound banking sector, one of the most important factors is reli­able financial information supported by quality bank audits. The present scenario requires special and added attention of bank auditors who are entrusted with the responsibility of bank audits as their professional duty.” said Parvez Ahmed in his opening remarks on the occasion.

“In today’s times, banks are ex­posed to number of audits such as statutory audits for which this semi­nar is meant for, concurrent audit IT audit, credit / legal / stock audits. Not only this, the regulator (RBI) also conducts risk based audit and these audits are the backbone of the public trust reposed in the banking sector by millions of customers. As such, bank audit is of paramount im­portance for the banking sector and banking regulator, as well as auditors and for our nation as a whole. Main­taining audit quality in bank audits is of great significance and for this there are huge expectations from the Chartered Accountants in their role of auditors. Let’s keep the tradition of societal trust intact”, added the Chairman and CEO JK Bank.

Urging the Chartered Accounts of J&K to undertake capacity building of young entrepreneurs on a vol­untary & proactive basis to develop the state economy he also under­scored that though implementation of regulatory guidelines in letter and spirit should be the critical area but the context in which audit is being conducted should be kept in mind especially in the fragile environment of our state where at times we need to have mentoring and handholding approach. He added that maintaining audit quality in bank requires besides normal audit skills, a balanced mind set, a pragmatic approach to business and a holistic vision to discharge at­test function in larger interest of economy He appreciated the efforts of J&K Branch of ICAI for Conduct­ing the Seminar and stressed upon the need to have more such sessions for brainstorming on such issues. Earlier CA. Niranjan Joshi made a detailed technical presentation on Statutory Audit of Banks wherein he also addressed the queries of the members on the subject matter. It was followed by a session on Usage of Commands in FINACLE-7 Software by a team of technical experts of the bank lead by Mohammad Muzaffar Wani, Assistant Vice President. A live hands on session about various Com­mands of FINACLE-7 Software that were relevant from the point of view of Statutory Audit of Banks were also demonstrated. CA. Shalay Razdan, Chairman of the branch earlier wel­comed & introduced the Chief Guest and the guest faculties and delivered the inaugural address. CA.Nakul Saraf, Secretary of the Branch con­ducted the proceedings of the semi­nar and CA.Vinay Jamwal, Treasurer of the branch presented the formal vote of thanks. JKCASA Chairman of the branch CA. Arvind Jamwal along with a large number of chartered accountants & senior officials of J&K Bank were also present at the occa­sion.


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