As you may be aware that every year the Auditing and Assurance Standards Board of the ICAI brings out the publication “Guidance Note on Audit of Banks” to provide guidance to the members carrying out audits of banks and bank branches.
This year also, the Board is in the process of bringing out the Guidance Note on Audit of Banks 2019 edition. It may be noted that this year, the Guidance Note has been divided into 3 separate Guidance Notes dealing with (1) Statutory Central Audit, (2) Foreign Exchange Transactions and Integrated Treasury, and (3) Bank Branch Audit other than Foreign Exchange Transactions.
We write this to inform that the following Exposure Drafts have been issued by the Board and hosted on ICAI website for public comments to provide an opportunity to various stakeholders to send their valuable suggestions for consideration of the Board:
1. Exposure Draft of Guidance Note on Audit of Banks, 2019 edition – Statutory Central Audit (https://resource.cdn.icai.org/52605aasb42162.pdf)
2. Exposure Draft of Guidance Note on Audit of Banks, 2019 edition -Foreign Exchange Transactions and Integrated Treasury (https://resource.cdn.icai.org/52607aasb42164.pdf)
3. Exposure Draft of Guidance Note on Audit of Banks, 2019 edition – Bank Branch Audit other than Foreign Exchange Transactions (https://resource.cdn.icai.org/52613aasb42168.pdf)
We request you to send your suggestions on these Exposure Drafts on or before December 15, 2018. Comments can be submitted using one of the following methods:
Chairman, Auditing and Assurance Standards Board
The Institute of Chartered Accountants of India