Dr V. A. Joesph, Managing Director and CEO, South Indian Bank, inaugurated a seminar on bank audit, organised by ICAI, Ernakulam branch, here on Friday.
Speaking on the occasion, he said a steady increase in rates of interest on deposits and advances during the year may see an increase in NPAs. Hence, identifying NPAs will be a key issue for chartered accountants undertaking statutory audit this year, he said. Dr Joseph also applauded the efforts of ICAI in convincing RBI to fix the criteria for audit of public sector banks branches having advances of Rs 6 crore and above.
He also said the presence of auditors will bring in more professionalism in banks.