The EIRC, Bhubaneswar Branch of the Institute of Chartered Accountants of India (ICAI) conducted a seminar on “Bank Audit 2019’ here on Wednesday.

The seminar was inaugurated by Canara Bank GM and Circle Head Shreekanta Mohapatra, seminar chairman CA Prashant Panda, ICAI Bhubaneswar Past Chairman CA Sumit Binani, EIRC Chairman CA Nitesh

Kumar More, EIRC Vice Chairman CA Sunil Kumar Sahoo, EIRC Secretary CA Ravi Kumar Patwa, Treasurer CA Debayan Patra, MC Member CA Sugyan Kumar Sahoo and Secretary CA Bisworanjan Sutar.

Newly elected office-bearers and managing committee members of EIRC of ICAI were felicitated.

Canara Bank GM Mohapatra said that auditors play a major role in detecting frauds and, thus, they should be equipped with latest technology changes and manner of conducting the audit.

Seminar Chairman Panda emphasised on the importance of conducting audit in CBS environment, importance of LFAR compliance, benchmarking standards in audit and identifying critical areas in reporting etc.

In the technical session, CA Niranjan Joshi from Mumbai deliberated on the topic “Overview on Bank Branch Audit, Planning and Documentation” and CS G V Subba Rao from Hyderabad deliberated on the topic “Prudential norms on Income Recognition, Assets Classification and Provisioning pertaining to Advances, Implementation of Basel Capital Regulatory Requirements in India, Disclosure Requirements and Treasury and Investment Functions.

The seminar was attended by over 250 Members from the fraternity and bank from different banks.