ICAI Guidance Note on Bank Audit (Revised Edition: January 2019)

ICAI Assistance Note on Bank Audit (Modified Edition: January 2019). AASB of ICAI has actually provided the ‘ Assistance Keep In Mind on Bank Audits’( Modified Edition: Jan. 2019) implied for in-depth assistance of members on numerous crucial products of monetary declarations of banks, disclosure requirements, prudential standards of RBI, audit treatments, LFAR reporting, Ghosh and Jilani, unique function reports and certificates, and so on

The banking sector in India is among the biggest worldwide as far as its comprehensive network of branches is worried. The function of the sector in the total development and advancement of the Indian economy is rather substantial and admirable. For many years, the sector has actually been through a long journey and has actually likewise accomplished brand-new heights with the altering times. The extensive usage of innovation has actually totally altered the working of banks leading to lower requirements for individuals to go to banks physically. The basic elements of banking i.e. trust and self-confidence of individuals on banking sector stays the exact same. This trust and self-confidence begin the back of strong quality of audit system and practices in location in India.

The Assistance Note on Audit of Banks is provided by the Auditing and Guarantee Standards Board (AASB) of ICAI every year with the goal to offer in-depth and upgraded assistance to the members on different elements of bank audits. The Assistance Note is a crucial resource for the members performing audits of banks and bank branches. I enjoy that AASB has actually brought out this modified 2019 edition of the Assistance Keep In Mind on Audit of Banks for the advantage of the members. I am likewise delighted that the Assistance Note is extensive and selfcontained referral file for the members.