From:
Ca. Prakash agarwal
Station feeder road, ward 8,
Mahananda para, siliguri, wb-734005.
To
The managing director & ceo
Union bank of india
Corporate office, mumbai-21.
Pertinent issues concerning annual closing & statutory bank branch audit
The institute of chartered accountants of india (Icai) has already issued specific guidelines while conducting the distance audit or remote audit or online audit of bank branches under the current covid-19 situation. Audit firms are required to adopt the sops adopted by the respective banks under the covid-19 situation and would strictly comply with the government regulatory guidelines issued in this regard without any deviation. As part of the sop, bank branches are required to provide audit firms with requisite data and keep records ready for the audit, thereby ensuring the audit process to be completed within the given time frame.
It is sad to note that here in siliguri region of the bank, availability of correct data and records on various parameters of the audit process is pathetic. Most of the branch staff are not able to provide any explanation for the accuracy of any record on any item like income recognition, asset classification, provisioning norms, taxes, govt scheme subsidy etc. Though this time bank’s various online audit portals are well designed but due to lack any sensitization of their working, even bank’s audit officials are not conversant about its features and operation. Most of the queries from audit firms are left unanswered due to lack of expertise, with only bank’s call-center and telephone operators made available for support. Due to these circumstances time and effort of both branch and auditors are wasted, compromising the efficiency and quality of the annual exercise. Only motive of the controlling offices seems to complete the consolidation process somehow with total disregard to the accuracy of the data and records.
Therefore we seek your support in following forms:-
A. To ensure that competent officials with due expertise are made available at branches, processing centers and controlling offices who are able to give required information and explanations to the auditor;
B. To make available correct data and records as per the requirements of the audit firm;
C. Mitigate errors stemming from housekeeping deficiencies.
Thanking you in anticipation,
Yours faithfully,
Ca. Prakash agarwal
Union Bank of India customer support has been notified about the posted complaint.
My amount is rs. 13654