Tag: LFRA

ICAI Technical Guide on Revised Formats of Long Form Audit Report (LFAR) In bank and bank’s branches audit, the auditors are required to report on certain matters prescribed by the RBI. LFAR is a separate report to be submitted to the bank’s management in the format prescribed by …

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 …