ICAI Release guidance note on audit of bank | Guidance note on bank audit for 2019

Every year, the Auditing and Assurance Standards Board (AASB) of ICAI brings out the publication, Guidance Note on Audit of Banks to provide detailed guidance to the members who undertake audits of banks and bank branches. The Guidance Note is updated every year to incorporate the impact of developments that have taken place in the banking sector which require attention of statutory auditors, such as, master directions/circulars of RBI, other relevant circulars issued by RBI, relevant pronouncements of ICAI having bearing on bank audits, amendments/changes in applicable laws or regulations.

ICAI Release guidance note on audit of bank | Guidance note on bank audit for 2019

ICAI has released guidance note on Bank Audit for the year 2019. The Guidance note on bank audit is divided into 2 Sections:

Section A – Statutory Central Audit

Section B – Foreign Exchange Transactions and Integrated Treasury

Section C – Bank Branch Audit other than Foreign Exchange Transactions