Friday, April 23, 2010

My Experience of Bank Branch Audits!!

Hi Friends,
    Its been quite a hectic and busy month for me. However, the busyness it provided me was duly compensated by the learning experiences the time provided me with. Firstly, the financial year ending, the last one in my articleship, got me busy with quite a good number of Income Tax returns. As the month of March ended, it was time now for bank audits. I could not participate in the bank audits earlier in my articleship due to graduation exams all the three years. However, this time, I made sure, I would be making the best and optimum use of this opportunity which was also supposed to be the only one in my whole articleship period.
 
Bank audits got me more closer to the working of the banks. Although I had been involved in the concurrent audit of one of the main branches of our city of one of the banks, I was expecting a different experience in these statutory audits. My conception was based on the fact that concurrent audit involved detailed checking of day to day transactions of the branch and there was ample time for our judgement while the statutory audit was hit with a time constraint on this issue. Hence, I was expected to be more efficient at the work, though I myself don't tend to be any less efficient any other time as well. It was a total knowledge enriching experience for me, and yes, I also learnt the art of coping up with time constraints and yet delivering to the best of our ability. Some new things to learn and new experiences to preserve with me, I used to get myself equipped with something new each day.
 
After finishing the local audits, we also had to visit Katra city in the state of Jammu & Kashmir for another bank branch audit. It was supposed to be a 3-4 days trip and well, it surely turned out to be an exciting one. We had a great time at Katra doing our work in the day time and enjoying the nature's beauty in the mornings and nights. As the city of Katra also marked the starting point for pilgrimage to Shri Vaishno Devi Shrine, the visit to the same was always in our minds. Eventually, my visit to the shrine got materialised, though my colleague could not go due to some other reasons. After finishing the audit work and doing all the reports, I finally started with our yatra along with CA. Vipul Arora, the senior partner of the auditor firm in which I am undergoing my training along with his daughter. It was truly a memorable experience, as Vipul Sir had lots to share with regards to his earlier visits to his shrine and his other life experiences as well. So, I got to learn many things from him during the journey both professionally and otherwise.
 
So, all in all, a good experience of bank audits and an exciting n memorable journey to Katra and Vaishno Devi Shrine. That sums up these last 3 weeks. :)
 
I hope you enjoyed reading my lone experience with bank branch statutory audits. And if you just got bored reading the whole text, I have uploaded some pics of my official trip to Katra at both Orkut & Facebook. Do check those out. :)
 
Bye 4 now. Take Care. Sayonara.
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