ICAI has released today its Guidance Note on Statutory Audit of Banks for FY 2012-13. The 2013 edition of the Guidance Note has been updated to give effect to the changes brought in by the various Master and Other circulars of the Reserve Bank of India which affect critical aspects of banking operations, generally, and the financial statements of banks, in particular, which the bank auditors should be aware of.  Particularly, the Master Circulars relating to asset classification, provisioning and income recognition norms, exposure norms, investment norms, statutory and regulatory restrictions on lending, disclosures in balance sheet, etc., changes wherein have been incorporated in the 2013 edition of the Guidance Note.   The Guidance Note takes into account the relevant RBI circulars issued till 28th February 2013Complete text of the Guidance Note and its Appendices can be downloaded free of cost from the following URL :-

Guidance Note on Audit of Banks 2013 Edition. – (15-03-2013)

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  1. R.P.Sonthalia says:

    Is there any of council member/regional member worried about the enhancement of the deposit limit re allotment of the Bank audits ,no one because it does not effect them at all and now they will approch us after one/three years.

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