Role of a Chartered accountant in the banking sector

Role of a Chartered accountant in the banking sector

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Created By Admin Last Updated Sat, 18-Jul-2020

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.