Karnataka Bank chief asks audit team to focus on qualitative reports

BL Mangaluru Bureau | | Updated on: Jul 05, 2022
Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, addressing the field and back-office inspectors at the conference of internal inspectors of the bank in Mangaluru

Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, addressing the field and back-office inspectors at the conference of internal inspectors of the bank in Mangaluru

Inspectors should ensure the laid down systems and procedures are adhered to while carrying out operations in branches, said Mahabaleshwara MS

Terming the field and back-office inspectors as eyes and ears of the bank, Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, has asked them to focus on qualitative reports.

Speaking at the conference of internal inspectors of the bank in Mangaluru, he appreciated the inspectors for conducting inspection and audits as per schedule even during the pandemic period.

He said the inspectors are expected to assure the top management and the board that the laid down systems and procedures are adhered to while carrying out operations in the branch.

Mahabaleshwara asked them to ensure maximum spot rectifications of the inspection observations and told them to look beyond the balance sheet/inspection manual for a meaningful inspection and audit.

Balachandra YV, Chief Operating Officer of the bank, said the technology has changed the manner of doing business and hence technology driven off-site audits are gaining equal importance, and hence robust system checks and alerts are the need of the hour.

Gokuldas Pai, Chief Business Officer of the bank, said compliance is mandatory and not optional. Compliance and business should go hand in hand, he said.

Nirmal Kumar K Hegde, General Manager and Head of Internal Audit, emphasized on risk-based internal audit and also informed the conference about the data analytics system.

Published on July 05, 2022
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