« Professional Updates » Open DEMAT Account in 24 hrs  Reopening of Online Empanelment of Members to act as Observers for May/June 2024 Examination upto 27th April 2024 at 11.59 PM  Cut-off date for enrollment in Foundation /Intermediate Course for appearing in September 2024/ January, 2025 Examinations.  Expert Panel for addressing queries related to Statutory Audit pertaining to auditing aspects  Invitation for contribution to Question Bank in respect of Self-paced Online Module Examinations (Set-C & Set-D)  India to be Accounting and Finance Hub : Invitation for Comments/Suggestions: Consultation Paper on Draft IFSCA (Book-keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations 2024   Auditing and Assurance Standards Board - Online Panel of Experts for addressing Bank Branch Audit related queries  Board of Internal Audit and Management Accounting of ICAI is organizing Webinar on "Identifying Red Flags and Report Writing by Internal Auditors" - March 27,  Revised Applicability of Peer Review Mandate (Phase II & III)  Important Announcement - Reschedulement of Chartered Accountant Examinations, May 2024   IMPORTANT ANNOUNCEMENT  Extension of Last Date for Online Empanelment of Members to act as Observers for May/June 2024 Examinations up to 15th March 2024 «  Audit firm takes ICAI to court: GTB case... ICAI - President's Message - April 2009... » ICAI - Time frame for conducting bank branch statutory audit assignment - A critical factor for auditors to perform quality audit April, 02nd 2009 After Satyam episode, we have a mammoth responsibility in the area of trust building that urges the members of the profession to be more vigilant in discharging our duties & responsibilities. The role of a chartered accountant in the current scenario should extend to also counter corporate frauds. It should be to primarily safeguard the shareholders/investors interests. It is learnt that various banks are impressing upon Branch Statutory Auditors to complete the audit in the first fortnight of April, 2009. Although today technology plays an important role in easing the job of an auditor However it is difficult to specify the exact number of days required to complete the assignments since it shall depend upon several factors, one may reasonably estimate that such assignments are likely to take atleast 10-15 days to audit three branches . Therefore, undue haste in completing the assignment under unnecessary pressure & signing on documents prepared by the branch without checking them thoroughly may not yield desired value addition to the Bank itself. Accordingly , all of you are requested to kindly execute the said assignments within a reasonable time having regard to scope of assignments, exercising appropriate professional skill & judgement , making ample use of various types of guidance provided by the Institute like guidance note on bank audit , standards on auditing etc. & conduct the audit in the most diligent manner.   CA. Uttam Prakash Agarwal President