%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20-%202024-07-10T162402.497.png "Conference of Statutory Auditors and Chief Financial Officers of Commercial Banks")
- The theme of the conference was “Shared Vision, Shared Responsibility: Advancing Assurance in Banking Supervision.”
- Key points from the conference include:
- Financial Health of Banking Sector: The RBI emphasized that the banking sector is in excellent financial health, poised to support India’s economic growth.
- Role of Auditors: Deputy Governors Shri M. Rajeshwar Rao and Shri Swaminathan J highlighted the crucial role of statutory auditors in maintaining financial stability and integrity. They urged auditors to adhere to high standards of objectivity, transparency, and ethics.
- Communication and Transparency: CFOs were encouraged to maintain open and honest communication within their organizations and with auditors and supervisors.
- NFRA’s Perspective: Shri Ajay Bhushan Prasad Pandey, Chairperson of the National Financial Reporting Authority (NFRA), emphasized effective communication between stakeholders and proactive oversight over branch auditors’ work.
- ICAI’s Contribution: Shri Ranjeet Kumar Agarwal, President of the Institute of Chartered Accountants of India (ICAI), highlighted the CA profession’s role in achieving India’s economic aspirations.
- The conference covered technical sessions on expectations from auditors and CFOs, cyber-security, internal controls, and data analytics in auditing.
- Overall, it aimed to strengthen assurance in banking supervision.
Question:
1 What was the theme of the RBI conference for Statutory Auditors and CFOs?
- A) “Financial Health and Growth”
- B) “Advancing Assurance in Banking Supervision”
- C) “Transparency and Integrity”
- D) “Role of Auditors in Banking”
