Tag: bank audit
RBI revises Long Form Audit Report (LFAR) – New formats applicable for audit period covering FY 2020-21 & onwards Keeping in view the large scale changes in the size, complexities, business model and risks in the banking operations, RBI had made a review of the LFAR formats, in …
ICAI advisory for Statutory Bank Branch Auditors Specific Considerations while conducting Distance Audit / Remote Audit / Online Audit of Bank Branch under current Covid-19 situation ICAI has issued an advisory to its Chartered Accountants with illustrative list of considerations to be followed kept in mind for undertaking …
ICAI issues an addendum and revises its Guidance Note on Audit of Banks 2020 Edition ICAI issues Addendum to Guidance Note on Audit of Banks, 2020 Edition ICAI, in view of the RBI circular no. RBI/2019-20/186DOR.No.BP.BC.47/21.04.048/2019-20 dated March 27, 2020 and RBI Circular dated 17th April, 2020 …
Statutory branch audit of PSBs-RBI modifies coverage norms for FY 2019-20 in view of Covid-19. Now 90% of funded /non-funded exposures only to be audited _RESERVE BANK OF INDIA DOS.ARG.No.6605 /08.91.001/2019-20 April 27, 2020 The Chief Executives of all Public Sector Banks Madam/Dear Sir, Statutory Branch Audit of …
Requirement for PSBs to complete Statutory Audit by 15th May withdrawn. Earlier the Govt had specified a uniform schedule for Statutory Audit of Public Sector Banks after closure of accounts on 31st March of the financial year Finance Ministry has withdrawn the circular which required that all public sector …
UDIN not mandatory for Statutory Bank Audit. However, for all Certificates to be signed while conducting Bank Audit, generation of UDIN is mandatory. FAQs for UDIN under Bank Audits. 1. Whether UDIN is mandatory for Statutory Bank Audit? For Statutory Bank Audit, UDIN is not mandatory. However, for …
ICAI Guidance Note 2019 Edition Section C – Bank Branch Audit other than Foreign Exchange Transactions AASB has issued the third and the final part of the Guidance Note on Audit of Banks 2019 edition. 2019 edition of the Guidance Note has been divided in three separate sections as follows: …
Financle e-learning kit for bank audits-ICAI ties up with Infosys The Institute of Chartered Accountants of India (ICAI) is aiming in setting up a benchmark for the statutory audit of the Banks for the year 2017-18 by utilising the Finacle expertise of Infosys, which have committed to provide a …
