Role and responsibilities of branch auditors :
Based on the guidance and information received from the central auditor, the branch auditors need to ensure that:
Their roles and responsibilities are clearly understood and implemented.
To the extent possible, data analysis tools are used for better and effective audit.
Test of controls and substantive checking of sample transactions is carried out at the branch level and, where considered necessary, the results are shared with the statutory central auditors.
Significant observations having bearing on the true and fair view are reported to the statutory central auditors.
Any other limitations on audit which are required to be reported to the central auditors are reported in a timely manner.