Role of a Chartered accountant in the banking sector
Chartered accountants can be well placed in the banking sector which is all about managing treasury/cash of the customers. From in-house functions to auditing roles, there are multiple roles that a CA can fulfill.
As regards audit, there are 3 types of Bank audits:
· Internal audit: It is conducted by a full-time employee which are mostly done by CA’s employed by the banks
· Concurrent audit: For this auditors are appointed by the management of the bank
· External/statutory audit: Auditors appointed in accordance with the law applicable to the bank.
For in-house roles, a CA can be employed full time for almost all the departments- such as Loans, fixed income, securities, deposits, debts, bonds, etc.