OPPORTUNITIES IN BANKING SECTOR APART FROM

CONCURRENT AUDIT Concurrent audit is a systematic and timely examination of financial transactions on a regular basis to ensure accuracy, authenticity, compliance with procedures and guidelines. The emphasis under concurrent audit is not on test checking but on substantial checking of transactions. Qualification required
ICAI certification course on concurrent audit and DISA/CISA.
How to Get the work:
Submission of Application for empanelment to IAD

Allotment is done by IAD or Zonal Audit Office.<br>

REVENUE AUDIT/INCOME AUDIT Revenue Audit is the audit of items governing income and expenditure. It is conducted with a view to verify the accuracy, relevance of expenditure incurred and income earned according to applicable circulars, notifications, etc. Qualification required
DISA/CISA

How to Get the work:
Submission of Application for empanelment to IAD

PANEL IS MAINTAINED BY IAD/ZAO<br>

STOCK AUDIT In general, a stock audit means physical verification of the inventory/stock. It can involve the valuation of the stock and verification of receivables as well, but it usually depends on the scope and term of the engagement letter of the assignment. When heading forward, it is very crucial to keep in consideration the sole purpose for which the audit is being conducted because different audits may have a different approach which would ultimately depend on the ultimate objective of the organization. How to Get the Work:
Submission of Application for empanelment to CMD(Credit Monitoring Department).

Allotment is done by CMD(Credit Monitoring Department)/ Recovery Department/Branch.

Each bank has its own policy for stock audit. The basic criteria is minimum working capital exposure say Rs. 1 to 10 crore.

It is normally conducted on H’YLY or YLY basis.<br>

BG AUDIT Bank Guarantee audit means verification of Bank Guarantee(Financial and Performance) issued with reference to work performed.

This is a risk assessment by the auditor for each guarantee issued.

Normally Required in EPC(Engineering, Procurement and Construction) Industry. How to Get the work:
Submission of Application for empanelment to Credit Monitoring Department.

Allotment is done by CMD(Credit Monitoring Department)/ Recovery Department/Branch.

Each bank has its own policy for BG audit. It is normally conducted on YLY basis.<br>

FORENSIC AUDIT A forensic audit examines and evaluates a firm's or individual's financial records to derive evidence used in a court of law or legal proceeding.

Purpose: To check diversion of funds/mis-appropriation of assets etc. Qualification required
FAFP


How to Get the work:
Submission of Application for empanelment/ in response to advertisement to IBA/Banks

Allotment is done by CMD(Credit Monitoring Department)/ Recovery Department.<br>

ASM(AGENCY FOR SPECIALISED MONITORING) The appointment of specialized monitoring agencies by banks for post-sanction credit monitoring to monitor loan accounts of ₹250 crore and above

The agency for specialized monitoring has professionals with domain knowledge, experience and skills in different sectors and industries. In case of large exposure or exposure of a specialized nature, such agencies provide inspection services, stock audit, cash flow monitoring, and end-use, among others. How to Get the work:
Submission of Application for empanelment/ in response to advertisement to IBA/Banks.

Empanelment is done by IBA under General and Special Category.

Allotment is done by CMD(Credit Monitoring Department)/ Recovery Department/Project Finance Branches.<br>

LIE(LENDERS INDEPEDNENT ENGINEERS’ REPORT)/ PROJECT MONITORING CONSULTANTS A lender’s Independent engineer report is prepared to ensure the interest of the lender and protect them against various risks involved. This specialised service of independent engineer report is a thorough assessment of the project report. These reports are majorly required for real estate projects, SEZ, and other infrastructure projects.
The priority of an Independent Engineer Report is to provide the client with a detailed review of the proposed project’s documents and the evaluation of the technical design to validate the eligibility and other compliances of the project. Whether it is up to the mark to meet contractual expectations or not.
Multi Disciplinary Firm is required to execute such type of assignment. How to Get the work:
Submission of Application for empanelment/ in response to advertisement to Banks

Allotment is done by LCB(Large Corporate Branch)/Project Finance Branches.<br>

IBC(INSOLVENCY AND BANKRUPTCY CODE) The Code outlines separate insolvency resolution processes for individuals, companies and partnership firms. The process may be initiated by either the debtor or the creditors. A maximum time limit, for completion of the insolvency resolution process, has been set for corporates and individuals. For companies, the process will have to be completed in 180 days, which may be extended by 90 days, if a majority of the creditors agree. For start ups (other than partnership firms), small companies and other companies (with asset less than Rs. 1 crore), resolution process would be completed within 90 days of initiation of request which may be extended by 45 days.
Application u/s 7
Personal Insolvency of Guarantors
CIRP
Liquidation
Resolution Plan
IM
Forensic Audit
Valuation-SFA
Accounting, compliance and so more Qualification required

Insolvency Professional(IBBI),

How to Get the work:
Submission of Application for empanelment/ in response to advertisement to Banks

Allotment is done by Recovery Departments.<br>

VALUATION(SECURITIES OR FINANCIAL ASSETS) There are three assets class now:
Land and Building
Plant & Machinery
Securities and/or Financial Assets

Valuation is mandatorily to be obtained from RV in IBC.
For new advances/renewal: Bank may obtain. Qualification required
Registered Valuer –Securities and/ or Financial Assets(IBBI)

How to Get the work:
Submission of Application for empanelment/ in response to advertisement to Banks

Allotment is done by Large Corporate Branches/Recovery Departments/Credit Monitoring Departments.<br>

DUE DILIGENCE Due diligence of a borrower/company is usually performed before bank loan.
Usually, the following information and documents pertaining to a private limited company or limited company are required for performing due diligence:
Memorandum of Association & Articles of Association
Certificate of Incorporation & Shareholding Pattern
Financial Statements & Income Tax Returns
Bank Statements
Tax Registration Certificates & Tax Payment Receipts
Statutory Registers & Property Documents
Intellectual Property Registration or Application Documents
Utility Bills & Employee Records
Operational Records How to Get the work:
Submission of Application for empanelment/ in response to advertisement to Banks

Allotment is done by Branches/Advances Cell/Recovery Departments/Credit Monitoring Departments.<br>

ROC/MCA COMPLIANCES Filing of Charge Documents

Search of Public Documents How to Get the work:
- Personal Contact with the branch.<br>

ADVISORY-SERVICES
MERGER, ACQUISITIONS, LITIGATION, FOREIGN INVESTMENTS ETC. How to Get the work:
- Personal Contact ADVISORY-MERGER,ACQUISITIONS, LITIGATION, FOREIGN INVESTMENTS ETC.<br>

VERIFICATION AGENCY Verification of Loan Documents
Verification of KYC
Verification of business and residence
Verification of financials How to Get the work:
- Empanelment by ZO/Credit Monitoring department.<br>

BUSINESS DEVELOPMENT/SOURCING-DSA Now Bank appoints DSA for
Retail Advances
MSME Advances

In the same way, account opening etc. How to Get the work:
- Branch/ Planning and development department of Bank.<br>

RECOVERY-SARFAESI CA can not work as an enforcement agent due to percentage sharing of fee on recovery basis.

OPC, LLP can be other ways to work Qualification required
- DRA-Debt Recovery Agent(IIBF)


How to Get the work:
- Recovery Department<br>

COMPLAINCE REPORTING OF ENTITIES AND BANKS Various certificates needs to be submitted by the bank/branches like:
Foreign currency exposure
Derivatives
Hedging
Interest Subsidy
And so many others How to Get the work:
- Personal Contacts<br>

IS AUDIT information systems audit, is an examination of the management controls within an Information technology (IT) infrastructure and business applications. The evaluation of evidence obtained determines if the information systems are safeguarding assets, maintaining data integrity, and operating effectively to achieve the organization's goals or objectives. These reviews may be performed in conjunction with a financial statement audit, internal audit, or other form of attestation engagement. Qualification required

DISA/CISA


How to Get the work:

IAD (Internal Audit Department)<br>

Others Treasury Audit
DP Audit
Project Report
Loan Arrangements/Syndication
Operation Manuals
Training<br>

THANK YOU<br>