The Auditing and Assurance Standard Board (AASB) of Institute of Chartered Accountants of India (ICAI) has released Guidance Note 2015 for the ensuing statutory audit of banks/bank branches for the year ended March 31, 2015. The revised guidance note can be of a great help to the chartered accountant auditors as it combines not only the relevant RBI circular but also applicable provisions of Banking Regulation Act, 1949, relevant provisions of the Companies Act, 2013 and all the applicable standards, other guidance notes and pronouncements of ICAI.  

As per ICAI, the Guidance Note (GN) has been updated with relevant circulars of RBI issued up to up to January 15, 2015.

The guidance note has been divided into following five parts:

Part I – Knowledge of the Banking Industry

Part II – Risk Assessment and Internal Control

Part III – Items of Bank’s Financial Statements and Auditing Aspects

Part IV – Long Form Audit Reports

Part V – Special Aspects

Apart from that it is accompanied by a CD which apart from the text of the GN 2015, contains illustrative formats of auditors reports, illustrative checklists, basel III Capital Regulations, relevant master/general circulars of RBI

Download ICAI Guidance Note 2015 (2.58 MB) Click Here >>

Download Compact Disk Contents (638 kb) Click Here >>