Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT RATES :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: cpt :: articles on VAT and GST in India :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: due date for vat payment
 
 
News Headlines »
  I-T department asks taxpayers to update their information on e-filing portal
  How to check income tax refund status
 GST panel to consult MSMEs in October end to further ease tax rigour
  How to check income tax return status
 Been Served a Notice by the Income Tax Department? Here’s How You Can Respond
 Seeks to amend the CGST Rules, 2017 - 45/2017 - Central GST (CGST)
 Government provides clarity on tax rate
 Processing of returns in Form ITR-I under section 143(1) of the Income-tax Act, 1961
  Filing of Reconciliation return in form 9 for the year 2016-17
  Today is last date for filing GSTR-1 forms for July; govt rules out further extension
 Today is last date for filing GSTR-1 forms for July; govt rules out further extension

RBI for greater role of CAs in ensuring solvency of banks
January, 10th 2012

Seeking to enhance role of auditors in ensuring solvency of banks, the Reserve Bank of India wants chartered accountants to ask pointed questions concerning risk assessment and capital adequacy of lenders.

"Auditors will need to move beyond narrow transactions audit consideration to look at the larger picture. They will need to ask pointed and relevant questions (from banks)", RBI Deputy Governor K C Chakrabarty said while addressing a conference of ICAI on banking sector audit in Chennai recently.

In view of the problems being faced by the banking sector the world over, he said, "it is important ...that the auditors ask probing questions about the adequacy of banks' provisions and capital...there remains scope for more rigorous attention to the issues of adequacy of capital and provisions by auditors".

The annual financial inspection of banks by the RBI reveals auditing "gaps" which are needed to be bridged, he said. "The auditors need to concentrate on the audit of head office of banks as against audit of branches given the emergence of core banking, centralised record keeping and even centralised risk management".

Chakrabarty said the auditors should ask questions like "Do decisions in the bank take adequate cognisance of risk considerations?...Do banks adequately understand the risk reward characteristics of product/market/business they are entering into?"

The review of banks by auditors, he said, should transcend the ordinary to enable them to critically analyse the operations of banks they audit and recommend improvements to the internal control framework.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions