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Fema / RBI - Contents of Bank Audit Manual 2017-18 1. Key Points 2. Asset Classification & Provisioning – a ready reckoner 3. Income Recognition & Asset Classification Norms - at a Glance 4. Important Points 5. Asset Classification – at a Glance 6. Important Audit Checks 7. Draft Management Representation Letter...
Read MoreFema / RBI - In CBS environment , most of the times , Management response is usually as All charges calculation and charging is done by system , there's no chance of under recovery....
Read MoreFema / RBI - One of the community most affected by demonetization after common men and bankers would be bank auditors. Most of the auditors are dwelling in confusion after so many notifications of government of India and RBI. ...
Read MoreFema / RBI - Most of the young chartered Accountants always dwell in the Question How to do concurrent Audit of a Bank. There are many reasons of this anxiety they possess for concurrent audits, Such as Lack of experience, Lack of opportunities, Lack of confidence etc....
Read MoreFema / RBI - Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form (MEF). There is something which is hidden and not transparent....
Read MoreFema / RBI - ICSI has come up with Exposure Draft of ICSI Guidance on Diligence Report on Governance for Banks. The Draft was released at the golden Jubilee Year National Conference of Practicing Company Secretaries (19th Edition) held at The LaLiT, Mumbai during May 18-19, 2018....
Read MoreFema / RBI - Your comments on this Exposure Draft -Guidance Note on Audit of Banks (2018 Edition) should reach us by January 13, 2018. Comments are most helpful if they indicate the specific paragraph(s) to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording. The comments should be sent to:...
Read MoreFema / RBI - ICAI is issuing the following revised formats of the statutory auditor’s report for urban cooperative banks (UCBs). These formats have been developed by the Board in consultation with the RBI and the same have also been accepted by the RBI....
Read MoreFema / RBI - The President, in terms of the authority given to him by the Council at its 363rd meeting held on 12th February, 2017, has constituted a Group related to all issues of Bank Audit including reduction in Statutory Central Auditors (SCAs), cooling period, distribution of bank branch audit as well as previous report of CA. Tarun J. Ghia on â€...
Read MoreFema / RBI - HDFC BANK IMPORTANT NOTICE REVISION OF FEES AND CHARGES – SAVINGS & SALARY ACCOUNTS (EFFECTIVE 01st March 2017) Effective 01st March 2017, cash transaction charges for Savings and Salary accounts are being revised as follows: Sr. No Charge Type Revised charges 1 Number of Cash transactions(Cumulative of Deposit and Withdrawal) 4...
Read MorePress Release: 2017-2018/3425 - (29/06/2018) - In the interest of improving audit quality and with a view to instituting a transparent mechanism to examine accountability of SAs in a consistent manner, it has been decided to put in place a graded enforcement action framework to enable appropriate action by the RBI in respect of the banks’ SAs ...
Read MorePress Release: 2017-2018/3425 - (29/06/2018) -
