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Excelsior Correspondent JAMMU, Mar 24: A seminar on “Bank Branch Audit & LFAR including Risk Audit & System Audit” organized by the Jammu & Kashmir Branch of the Northern India Regional Council (NIRC) of the Institute of Chartered Accountants of India (ICAI) was held here today. The programme commenced with an inaugural address by Amit Gupta, Chairman, J&K Branch of ICAI, who highlighted the critical role of Chartered Accountants in maintaining the integrity of the financial system. He encouraged members to remain proactive in upgrading their professional knowledge and adapting to emerging regulatory challenges. Setting the context for the day, Sanchit Aggarwal, Secretary, warmly welcomed the dignitaries and participants. He underlined the growing significance of bank audits in the present technology-driven environment, emphasizing the immediate need for continuous upskilling in specialized areas such as LFAR, risk-based auditing and system audits. The technical sessions were led by highly distinguished faculty Amarjit Chopra, past president of ICAI, shared invaluable insights into the evolving landscape of bank audits. He highlighted the increasing responsibilities of auditors in ensuring transparency, strengthening internal controls and improving the quality of financial reporting, while elaborating on the practical expectations of regulators in today’s dynamic environment. The second technical session was steered by Lokesh Gupta, a renowned expert in system audit and banking norms. He provided participants with actionable insights and real-life perspectives, enabling them to confidently handle the complexities of modern bank audit assignments. The programme concluded with a formal vote of thanks delivered by Jatin Malhotra, Vice Chairman, who expressed sincere gratitude to the eminent speakers for their enriching sessions and to the members for their active participation. Among others who attended the seminar included Ayush Mahajan, Treasurer; Sourav Pargal, immediate past Chairman and Ayush Sawhney, Executive Member.

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