This document provides an overview of the professional career and clients of the author after they resigned from their previous company in 1985 to start their own practice. It discusses three initial clients they took on, including an industrialist and proprietor of a warehousing business. It then outlines other clients and assignments they took in the following years, such as auditing housing cooperatives, forming a partnership for bank and insurance audits, and taking on various other roles including as an insurance surveyor. The document traces the growth of the author's practice over a period of around 15 years as they developed a diverse client base and portfolio of work.

1. 13 / My Professional Career & Clients
Having decided to resign from the company in February 1985, I was once again confronted
with further action namely to search a new job or to finally join the Profession. Mr. H. K.
Desai, Auditor of the company was suggesting me to join one of his clients as Financial
Controller. I kept the option open. However I was reluctant to take up the job. No doubt,
I updated my bio data and kept necessary print outs ready but I was trying my level best to
hook few clients before I leave the company.
Our consultant suggested me to meet one of his ex-client. (This consultant was assisting the
Industrialist to get the land from MIDC and Loan from MSFC.) I met the said client. MD was a
technocrat and had returned to India after serving in USA to set up the factory in India (his
Life time dream). He had already set up a factory in New Mumbai. We had detailed
discussion about the work to be carried out. I was supposed to make two visits per month.
It was a good beginning.
Mr. Dilip Nabar my ex-colleague had taken up our company’s dealership at Poona in early
1984. He was also planning to shift to Mumbai in 1985. I have already mentioned that he
accompanied me on last day in the company i.e. 31-05-1985. He had formed a private limited
company at Poona. I agreed to take up his assignment as Auditor & Management
consultant.
During my resignation period (February – May 1985), I came across an advertisement from the
firm for the post of consultant on retainership basis. The proprietor was an educated Muslim.
He had inherited the warehousing business from his father. I was expected to supervise the
accounts and administration departments on concurrent basis. I agreed to visit the office
every Monday for four hours. I was given an AC cabin and the necessary powers to give
instruction to his staff.
Thus by the time, I left the company, I had three clients to start with. I had assured income
to the extent of 80 % of salary. Finally I left the company on Friday 31-05-1985.
On Saturday, 1st June, 1985, I stepped out on my long Professional walk. I went to Chembur.
I was thrilled on my first day of Practice. I spent my time in reading the project report,

2. 2
analyzing the accounts of previous year, reading the minute book, correspondence with
MSFC, Bank etc. I also had detailed discussion with MD.
MD was south Indian and highly qualified. He had set up a modern heat treatment plant. His
wife was also educated and assisted him in looking after administration & EDP department of
the company. He had great concern for his workers. He provided safety uniform, shoes,
lockers, milk, and free electricity to their hutments. Inspite of this, workers formed the union
and harassed the management.
Over the years, we became very friendly. He used to consult me not only on financial matters
but also on family matters mainly his sons. I got the opportunity to use my counselling skills
along with my professional work. (But I was never paid for such invaluable personal advice.)
One such piece of advice in relation to his son was not implemented and his son broke the
relations with my client and settled abroad. Another son completed education (as per father’s
wish) but selected music as his career. (He had pursued music since childhood against the
father’s wish) He settled in South India. My client could not bear the situation. He was hoping
that atleast one son will continue the business which he had developed as his dream. My
client admitted his mistake in not accepting my advice, after I left his assignment.
I can not share with you the episode of difficulties & harassment faced by him from
Government authorities, political leaders etc. and how boldly he managed them although he
was a south Indian. Finally he sold of his running business. I left this client in 1995 as part of
my retirement plan.
On Monday, 3rd June, 1985 I visited another client running a warehousing business. I spent
almost 5 hours to get acquainted with the business, accounting records, staff etc. I had
preliminary discussion with proprietor before leaving the office.
Proprietor never interfered in my work. I looked after his personal finance. Once he went
abroad for two months and requested me to supervise the business. He signed 200 cheques
(most of them blank / bearer) and handed over the cheque book to me for custody. I issued
the cheques as and when requested by the Manager & Chief Accountant. Proprietor was very
happy with my performance. He presented Yashica camera (Fully automatic) to me for
services provided. I left his work in September 1996 after my deadly accident & as a part of

3. 3
my retirement plan.
Mr. Dilip Nabar was still operating from Poona. He was on the look out of office in Mumbai.
Finally he got the office on rental basis at Wadala. Initially I was also operating from his
office. Dilip was more than happy because I was there to look after his office in his
absence.
I knew ‘ins and out’ of his business and hence I was not only looking after his accounts
department but also supervising stores department, inventory control, staff training etc. I also
looked after his personal finance & investment. I was part of his family. I left his work wef
31-03-1997 as a part of my retirement plan. It was very shocking for him but with great
persuasion, he managed to tie over the feeling. I am happy to inform you that our relationship
bond is still strong although we don’t meet so often.
Mr. Dilip Nabar fell sick in 1998 with a high fever. He was admitted in hospital at Borivali.
Due to drug reaction, his lever failed and he suffered from jaundice. Next day his kidney also
failed and he was shifted to Nanavati Hospital at Vile Parle. He had to undergo dialysis twice
a week. It was necessary to run the business in his absence. Basically his company was one
man show and he was hospitalized. I met him in the hospital and promised him to look after
his business. I attended his office for few hours every day and managed his business without
disclosing to clients and suppliers about his major illness. I called staff meeting to keep their
moral. Staff also co-operated and we successfully carried the business in his absence.
It was obvious that these three initial clients can not keep me busy. Now my first task was
to make people aware that I have entered the Profession. I made the list of all persons with
whom I had dealt in my service period of about 10 years. I wrote them the letters. I was also
looking after the advertisements in TOI for the post of consultant on retainership basis. I wrote
letters to Co-operative Banks, my friends and ex-colleagues in the industry.
Consultant referred above gave me one more reference of his ex-client at Andheri,
sometime in August 1985. I called on the client. He was a Gujarati businessman. His problem
was peculiar. He was running a factory for few years, operating a bank account but had not
written the accounts. Obviously he could not file his I T Return due to above. The main job
was to reconstruct the accounts of say last 8 years based on bank statements and other records

4. 4
such as invoices and purchase bills. It was a Herculean task. Topic of Single entry booking is
taught to commerce students in Inter Commerce. This was my favourite topic in Accountancy.
A person with core knowledge of Accountancy can only convert Single entry booking records
into Double entry booking records. When I learned the topic and scored good marks in the
single entry topic, I had never imagined that I will have to use this knowledge in the CA
practice. I accepted the challenge. It was made clear that time dimension of the job can not be
determined because initially a month may be required for going through the available records,
finding out missing records etc. Thus fees will have to be fixed on hourly basis and should be
settled every Monday. Hourly fee was quoted and I started the work. The assignment was
like hide & seeks game.
After about two months, I could arrange the available records. The next problem was of cash
deposited in bank account. The client was asked to get the cash entries from the market.
I commenced my job of compiling the accounts. Considering the quantum of assignment,
I introduced my friend Jayant to help me out.
Friends, the client was carrying a small manufacturing process of mixing two chemicals. The
basic raw material had to be purchased against cheque and hence there was no problem for
purchase records. However one more chemical was added to the main raw material to make a
finished product. Certain amount of process loss was also playing its role. Now the problem
was of non availability of purchase bills of subsidiary raw material apart from ascertaining the
quantity purchased. Thus it was necessary to compile sales register to find out the quantity
sold to arrive at the Production quantity. Once the Production quantity was arrived, it was
fairly easy to ascertain the purchase of subsidiary raw material after considering the process
loss. Friends, you will realize how difficult the task was.
Not only this, but I reconstructed the Board Meeting Minute book of last 8 years for his
associate company. (Accounts could be constructed fast because not much business was
carried out by the company.)
I spent whatever time available at my disposal on this assignment. Jayant was regularly
sparing few hours every day for this job. The job lasted for over a year. I earned handsome
fee. Finally the client got the accounts neatly written in the books of accounts. I T Returns

5. 5
were filed and even assessments were done. Client was relieved and happy because it was
economical affair for him. He had saved the Accountant’s salary of 8 years and hardly shared
60 % as fees. By the time we finished the assignment, accounts of one year were due for
finalization. However some how he avoided giving the regular assignment. I had friendly
relations with him for few more years.
His office was situated in his flat. Mother & all the three married brothers were staying
together. I could observe the problems of joint family. All brothers and at times their spouses
shared their complaints against each other. My counselling skills probably got developed
from that stage.
In the mean time, brother of my ex-MD’s wife contacted me. He was also Gujarati. He was
setting up a private limited company with his NRI friend for the manufacture of cassettes.
I took up the assignment right from incorporation of company, compiling project report,
negotiation with bankers for loans, company secretarial work and Statutory Audit. My entire
professional experience in the Industry had a role to play in this assignment. However
I could not earn handsome fees considering the time I spent. Being a Gujarati, he negotiated
the fees with a promise to give internal audit assignment of his other five private limited
companies. However he never kept his word. (He followed a typical American style of
Marketing) However I left the work after Audit of 1st year. The Project was set up but never
took off in the real sense.
The first three clients were going strong. 1986 was coming to an end. I was yet to hook the
big client who can keep me busy. Around that time, a new circular was issued by Registrar of
Co-operatives societies allowing the housing co-operative societies to get their accounts
audited by CA provided he has attended the certificate course of ICAI in respect of Society
Audit. (I completed this course in August 1985) I decided to take up this diversification.
I contacted office bearers of housing societies in my area. I found that Audit was pending for
more than two to three years due to shortage of staff with Registrar of co-operative societies.
In many societies, books were written but accounts were not finalized. Minute book and other
statutory registers were not up to date. Society audit kept me fairly busy during entire 1987.
I did the work at residence cum office and I could relax, could do gardening, played
badminton in the evening, could take evening walk and also earned money and above all

6. 6
created number of friends and well wishers.
Subsequently, I did audits of housing societies devoting my leisure time on Sunday as I was
busy on other days for audit of banks, companies etc. Audit fee scale was Rs. 210/-for yearly
audit. In fact this petty amount would get spent on conveyance or offering tea /snacks to
office bearers. Even a junior CA was not willing to carry such audits. Due to this attitude,
Audit would get pending for years together. By doing audit of such societies, I was relieving
tension of the office bearers of the society. Even today I meet many such office bearers and
they inform that now once again, the Audit is pending for few years. I did such society Audits
for 15 years. I made many friends and well wishers. The fact that People remember my
sincere service pacifies me. A great thought to cherish in my retirement days. Office bearers
would feel awkward to give a petty Cheque of Rs. 210/- knowing fully well that I was
carrying out audits of banks and companies and earning handsome audit fee. Finally I left the
audit of co-operative housing societies from 1996.
There was another development in 1986. My best friend Mr. Jayant had also left the job and
entered the Profession from July 1985. He had already started his coaching classes for
commerce students from June 1985. We decided to form partnership firm for undertaking
Statutory Bank branch audit and Insurance Survey assignments. We entered into partnership
and formed the firm namely M/S Paranjape & Vaidya Chartered Accountants. We enrolled
our name with ICAI for allotment of bank branch audit.
We also did necessary paper work to secure Surveyor’s License from Government. Now the
next task was to get our name empanelled with Insurance companies. I spent my entire free
time for enrolling our name initially with the Regional Office of Insurance companies and
subsequently with their respective Divisional Offices. Friends, You may not believe but It took
me almost 4 years to complete the process after securing Surveyor’s License in last quarter of
1986. The License was issued for 5 years and was due for renewal in 1991. Finally the License
was sent for renewal and Mumbai experienced worst ever rain on 8/9 the June 1991. I had
returned from Matheran on 07-06-1991. It rained cats & dogs in Mumbai. And finally we got
our 1st insurance survey assignment. Thanks to Mumbai Rain. Thereafter I never looked back.
Our firm became one of leading Insurance Surveyors in the field specializing in
Miscellaneous department and investigation of accounting records of the Insured.

7. 7
I acted as an ‘Insurance Surveyors’ for over 14 years. (i.e. up to 30-09-2000) Insured would get
the insurance claim based on my remarks in survey report. Even then I never misused my
position. Policy holder hardly understood this approach. Today every body and every thing
is for sale (Professional is no exception). In this back drop, it was difficult for clients to
understand that I was not for ‘Sale’. Incidentally let me enlighten you that there are two other
types of Insurance surveyors. One category would certify inflated figure of loss for a ‘price.’
The other category would threaten the policy holder that he would certify the lower loss and
would demand a price. Due to my sincere approach, I enjoyed respect with Insurance
companies. Many a times I was given the assignment of reviewing the reports of other
surveyors. Survey work expanded my knowledge horizon as I came in contact with
businessmen and had opportunity to know the intricacies of different types of business.
I shared this knowledge with my spouse. I could have created many enemies in this field due
to my straight forward approach but my sincerity in the job was felt by Insured as I offered
free professional advice for their business to avoid the loss in future.
It was decided initially that though the firm has been formed to take Bank branch audit &
survey assignments, eventually our individual practise will be merged & carried out in the
Firm’s name. Similarly I would also join the Coaching Class set up by Jayant after 3 years.
However it did not happen because Jayant could not get many clients and was more
interested in teaching. He spent almost 5 hours for teaching and left with no energy to do
serious audit assignments. He took up consultancy assignment on retainership basis and used
to spend his entire day from 12 noon to 6 pm for that work. He used to spend 3 hours in the
morning between 6 am to 9am and 2 hours in the evening from 7.30 pm to 9.30 pm for
teaching. He was famous Professor in the area.
At other end, I gradually hooked many clients and moreover I was not very keen on breaking
my head to teach college students. In fact, the entire Survey work was looked after by me on
behalf of the firm as Jayant had no time and the survey job demanded different approach and
skills which he did not possess. He tried his hand with few surveys but made a mess and I
had to spend my time to sort out the same.
During 1987, I learned Astrology under the guidance of my friend Mr. Agashe. He conducted
classes on Sunday afternoon. In that class, I happened to meet Agashe’s friend Mr. Suresh

8. 8
Palkar. He was working as Development Officer with LIC. Eventually he became my friend &
Astrological Guru. I learned Astrology from January 1987 to September 1987. However what
I learned was basics and further interest in the subject was aroused. I read number of books
during October &November 1987. During December 1987, I compiled Astrology Guide
(1st draft) and updated regularly with my advancing of knowledge. More of it you would read
in other Articles namely My Hobbies, My Social Service etc. I finished Astrological Guide in
December 1987 and good news was knocking the door.
Our firm M/S Paranjape & Vaidya was allotted two branches of Bank of India situated at
Wadala for Statutory Audit for the year ended 31-12-1987. Good beginning for the firm.
Friends, to share a secret, both us had never done bank audit during CA articles. Of course
we knew as to how bank functions due to our close association with many banks during our
service as I was working as financial Controller and Jayant was working as Chief Accountant.
It was a challenge for us. However we had bit of experience of bank audit as we had recently
done Revenue Audit (popularly known as income leakage audit) of one of the large sized
branch of Bank of Maharashtra. We read Bank Audit Manual of ICAI, attended the refresher
seminar conducted by ICAI. I prepared the checklist of queries and information to be obtained
from the branch officials. We had to attend conference of Auditors conducted by Bank Of
India before the audit. BOI had issued comprehensive guidelines to Branch Auditors. Central
Statutory Auditor also addressed the gathering. With this we were theoretically ready to face
the assignment. I am happy to say that we successfully completed the assignments. The
branch officials were surprised and complimented us for our efforts. They openly admitted
that they had never experienced such a comprehensive audit & co-operative auditor with a
human face in their Life time. I am happy to inform you that I received this compliment on
number of occassions in rest of my career. More of it has been stated in Article on My Social
Service and other articles. The branch Manager gave us party on the last day of audit (it was
3rd week of January, 1988). We had a drink followed by a nice non-veg lunch. I telephoned my
client’s office to find out any message for me. To my surprise, I was called for a discussion by
Chairman of a co-operative bank at 8 pm at Parel. Our firm carried out statutory branch audit
of number of nationalized banks till 31-03-2004. Our firm M/S Paranjape & Vaidya was
finally dissolved wef 30-09-2004.
I had sent letters to co-operative banks to empanel my name on their panel. I rushed home.

9. 9
I asked Sumitra to give me limbo-pani as I had taken drink before lunch. I applied face pack.
It was necessary that no body should get smell of the drink. I took the necessary papers and
left home at about 6.30 pm. I reached at about 7.30 pm. Chairman and few directors had come.
Board Meeting was scheduled at 8.15 pm. Chairman of WIRC of ICAI was also called for
discussion. He was elder by 5 years but very much senior in the profession as he entered the
profession immediately after completing CA. We knew each other very well. Finally at about
8.45 pm, the other CA mentioned above was called for discussion. I was called inside at about
9 pm. The chairman of the Bank expressed his apology for keeping me waiting. (He was ex-
MLA and well known Advocate) We had nice discussion. He was very much impressed with
my high professional qualifications, industry experience and also bank audit experience.
I was appointed as Joint Internal Auditor of the Bank for the year ended 30-06-1988. (7 months
of the accounting year were already over.) I acted as Internal Auditor of the Bank till
year ended 31-03-2011.
By 31-03-2009, I left all my clients as a part of my retirement plan but this client was not ready
to leave me and hence I continued my services. Other CA firms appointed as Joint Auditor
along with me were replaced in last 24 years but inspite of my blunt reporting, I was
preferred. The entire Management and staff members have developed the relationship
bond with me. However the line of control between friend, guide & philosopher at one end
and Internal Auditor at another end was kept intact. Finally with a heavy heart I left this
client after completing audit for the year ended 31-03-2011.
My professional advice was taken on number of occassions in respect of Project Finance. It so
happened that when ever my advice was not adhered to, the bank faced some problem or the
other with borrower. The management openly admitted this fact.
I can not resist from mentioning one incident. Once, the union had issued the order of ‘work
to rule’. But to my surprise, union secretary called up the branch to inform that the said rule is
for the management and complete co-operation should be given to me. This was possible
because of good inter personnel relationship developed by me over the years.
I offered my professional services as consultant and improved internal control of the bank.
I assisted the bank in establishing Training centre. I also invited staff members of other banks
audited by me, to participate in the training programme. I also established similar Training

10. 10
Centre for another co-operative Bank.
I took specific efforts for the personality development of the participants. I made extensive
training notes and training manual. I also gave special training to bank officers for giving
lectures on various subjects. These Bank officers were also inducted as faculty members for
imparting training. This step boosted their confidence in their day to day work. I was very
proud and happy for their success.
Along with my profession, I also acted as paper examiner of various Professional bodies such
as ICAI, ICSI, IIB and ICWA etc. since 1976. I hardly earned Rs.4/- per answer paper. You
would need atleast 20 minutes per paper for checking. In addition I had to spent time for
collecting and sending back answer papers. You will realize that I was obviously not doing
this assignment for earning money. My bill also would get settled after 4-5 months. Inspite of
these hard facts, I did this noble job for over 15 years obviously due to the intention of social
service. I thought that some body has done the similar job when I completed my professional
education and various diplomas. Now it is my turn to repay the debt. I had to do this job on
holidays and during night on other days. The job too had a deadline. Many times I have
checked the answer sheets in the train. I nearly saw the death once doing this job. Refer my
Article ‘My Death Experiences’.
I also acted as paper setter for Institute of Banking Personnel and selection for few years.
Friends, It is difficult to talk about every client because I left number of clients after a short
period because basic professional equations could not be established. I also did number of
one time assignments of introducing Management Information System in the organization,
Compiling Project reports, looking after recruitment of staff for the client etc.
I never sold my knowledge for unethical acts. I used my knowledge, education and experience
for the benefit of the society. But the current picture is other way round. Knowledge and
education is being used for accumulating wealth. We have all along tolerated political
leaders /workers for this. But the sad story is that even professionals, intellectuals have also
joined this band wagon. No service provider wants to be left out of this scenario. With the
result, quality of management is deteriorating day by day because they have full confidence
that somebody would ignore their shortcomings for a ‘price’. No doubt, there are exceptions

11. 11
to this rule and in fact India has made progress on all fronts due to single handed efforts of
such honest persons. However this work scenario makes things difficult for a sincere
worker. I have faced this music for cultivating good qualities such as sincerity,
involvement, working for the interest of the organization rather than the person etc.
It is unfortunate that many Professionals have converted their ‘professional practice’ in
‘business’ and are busy recovering the value of their signature acquired due to professional
qualification. I did the Audits for the benefit of the organization without considering what
is convenient for the office bearers. There was every chance of losing the client by doing
this. But I have still done this tight rope walk since 1985. I doubt whether every one can
visualize my efforts in doing this.
In March 1992, my friend Mr. B. K. Jorapur CA called me and requested professional
assistance. Initially I accepted one assignment and successfully completed to his satisfaction.
During Inter Commerce, I came in contact with Mr. Jorapur. He was senior by one year. He
gave good guidance about the books, study material and helped in my studies. We became
friends and eventually I joined him as an Executive Partner in March 1992. Our association
lasted till 2009.
Mr. Jorapur joined the firm set up by his father after CA. His father had since stopped
attending office. We did internal audits of number of co-operative banks and statutory bank
branch audit of nationalized banks.
We also carried out Divisional Audit of Insurance Companies for number of years. I already
had insight into working of Insurance Companies in the capacity of Insurance Agent &
Insurance Surveyor. In 1987, I came in contact with Mr. Suresh Palkar (friend of Mr. Prabhakar
Agashe) in the Astrology class. Mr. Palkar was working as DO of LIC. He requested me to
take up an insurance agency. I had already obtained Insurance License in the name of
Mr. Sumitra Vaidya for insurance agency of General Insurance companies. I did the LIC
agency for 5 years from 1987 to 1992. I offered free investment advice to my clients. I sold LIC
policies to genuine investors. I had the opportunity to sell the policies to the Insured as
I was also acting as Surveyor. But believe me that I never misused my office of power for my
personal benefit.

12. 12
I thoroughly enjoyed Statutory audit of Divisional Office of Insurance company because
I was confident to poke my nose in any department namely underwriting, claims and
accounts. Insurance officials appreciated my knowledge and attitude and recommended my
name to their colleagues for allotment of insurance surveys. I met with an accident in July
1996. (Read article ‘My deadly accident’.) I was in need of policy of the bus owner to lodge the
claim with MACT. I could get the policy due to my acquaintances with the Divisional
Manager of another company.
I also assisted Mr. H. K. Desai, CA for audit of DO of another insurance company. In this case,
Divisional Manager of that company helped to get my Survey license renewed in 1996.
Insurance company appoints auditor for a period of 3 years and hence once you make the time
investment in the first year, you can carry audit for next two years in less time. Time given for
audit is also adequate. Moreover importance is given to Audit Report because this report is
sent to CAG and hence Officials are interested in getting the clean report and co-operate
with the Auditor.
Allotment for bank branch audit is done in last week of March and Auditor is expected to
submit the report by 10th of April. Every year new branches are allotted. I have experienced
that adequate comfortable space was never available in any branch for Auditors. Branch
Officials do not get afraid with discrepancies in audit report as each branch faces about ten
auditors during the year.
Let me throw light on the attitude of bank management. Statutory Bank Branch Auditor is
supposed to answer few questions on ‘Fraud’ detected during the year as per RBI Guidelines.
One year we found that fraud was detected in one of the branch allotted to us for audit. CBI
complaint was lodged and matter was under investigation. Ex-Branch Manger had committed
the fraud and he finally committed suicide. Friends, I can not share with you the further
details of fraud. My partner Jayant had to spent almost 10 days to study the files, FIR, Internal
reports etc. in relation to the fraud. We prepared the detailed note on fraud as to how it
happened; whether any negligence was observed and remedial action to be taken by bank to
avoid such frauds in future. Our note ran into 25 foolscap pages. Our note was discussed with
Branch Officials and with Regional Officials. There was indirect pressure on us to tune down

13. 13
the note and not to insist for provisioning of loss. Obviously, we did not agree and submitted
the report as it is. There was no feedback from Statutory Main Auditor on our report. Next
year we were appointed as auditors of branches located at New Delhi. We were expected to
arrange our tickets and hotel stay at a short notice of 2 days. The branch audited by us in
previous year was allotted to Delhi Auditor. It was obvious that bank tried to take the
revenge on us. We flatly refused our appointment for that year.
Let me share one more experience. The bank was in the process of converting their branches
under CBS. (Core banking solution) Under this system, interest and service charges
application is done from central EDP cell. We observed that interest was not paid on one
deposit product. Being CBS branch, we enquired with EDP cell and found that our
observation was correct and the mistake has happened in case of all branches covered under
CBS. We calculated the amount and found that the mistake was material for the branch. We
qualified the report. Here again there was pressure from Regional Officials for deleting the
remark. We said that if amount is material for the branch, the said lapse will be material for
the bank as the mistake had happened in all branches under CBS. We qualified the report.
In this case also, there was no communication from Statutory Main Auditor on our report.
We were also told that none of the other auditors have pointed out this mistake.
We also carried out Revenue Audit of number of banks. If Auditor reports the revenue leakage
more than his audit fee, the management would get pleased and our appointment for next
year is assured. Here I had developed a special strategy for finding out the leakage and
successfully implemented the technique and reported revenue leakage of over 15 times of our
audit fees. Even Branch Officials would get surprised and keep wondering as to how in
spite of internal control / double checking of records, this income leakage could happen.
I enrolled the firm M/S K. B. Jorapur & Co. with Bank of Maharashtra for stock audit.
Simultaneously I enrolled M/S Paranjape & Vaidya with BOI for monitoring of sick &
rehabilitated accounts of borrowers. I did number of stock audits for BOM. One such incident
has been covered in the article ‘Deaths seen in Life’.
I also did monitoring of sick advances on behalf of BOI. However the experience was not
encouraging because neither the bank nor the borrower co-operated with us. Yes, you read it
correctly. Even bank officials were not very serious about monitoring of sick advance. We

14. 14
received our agreed fees but without the job satisfaction.
Now let me share a secret of my success in the field.
I can get along with any age group forgetting my age, designation, education etc. I can have
heart to heart dialogue on an equality complex. I have respect and soft corner for every
service provider. I specifically introduce my self to all staff members of the client including
sub staff. This helps me in getting the records in time for audit. Sub-staff feel happy because
no body talks with dignity. You end up getting confidential information about the office
which is helpful in carrying out the Audit. The word Audit has been derived from the Latin
word ‘audire’ which means to hear. I get to listen more due to my open approach with
equality complex.
April 2011, I retired from CA profession. I have been retiring every year since 1995 by saying
good bye to one or the other client. I hosted my website ‘www.spandane.com’ in May 2008 to
share my vast professional experience, my various hobbies such as astrology, medical,
graphology, body language, photography, writing articles on life philosophy etc. I am more
than happy with the response of over 10,00,000 hits till the website was deactivated. The
website was updated every quarter with new Articles. I must have spend over Rs.75,000/- for
this hobby. I did not even mentioned my name on the website with the intention that my
introduction should be reflected in the contents of the website.
Friends, I invite your attention to Articles ‘My Social Service’ and ‘My Reflections.’ to get
better insight in to above professional experience.

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