Page 84 - Quick Insights Book 2022

Chap. 23 – State Co-operatives (Including Co-operative Banks)

Chartered Accountants can render services in the following DELIVERABLE BY A CA
areas also: —
Chartered Accountants, with knowledge, skill, understanding
Traditional Opportunity of banking operations, RBI regulations and other applicable
regulations are in best position to lead and guide the CBS
 Management Audits of Policies adopted specifically implementation effort.
validating the same in terms of RBI Guidelines
Chartered Accountants can provide these consultations as a
 Internal audits of bank full-scale implementation expert or also at various stages of
CBS deployment.
 All special consultation services being provided by
members to public sector banks are available for co- Detailed discussion on this under heading dealing with
operative banks, including stock audits, revenue audits, Opportunities under Information technology.
statutory audits, Inspection Audit etc.
CBS MIGRATION AUDIT
New Age Opportunity
BASICS
1. Social audit of specified large co-operatives
Bankers implementing CBS need to get migration audit,
2. CBS Implementation Consultation
to validate the correctness, accuracy, of data as well as
correctness of parameters entered.
BASICS
Bankers, more specifically at state and district level, are going DELIVERABLE BY A CA
ahead with implementing CBS, for better business and also in Chartered Accountants, with knowledge, skill, understanding
compliance with RBI mandate.
of banking operations, RBI regulations and other applicable
regulations are in best position to deliver services as migration
auditors.

Important Links
• Professional Development Committee of ICAI is offering a Certificate Course on Cooperatives, for details, please visit at:
https://www.icai.org/post/certificate-course-on-cooperatives-npo

Quick Insights on Professional Opportunities for Chartered Accountants 71