Guidance note on audit of Bank

Last updated: 12 March 2008

GUIDANCE NOTE ON AUDIT OF BANKS (2008 Edn.)

We are pleased to inform that a revised 2008 Edition of the Guidance Note on Audit of Banks has been released.

The 2008 edition of the Guidance note has been divided into four distinct parts.

Part I - Banking Operations

information about the banking industry

its legal framework

accounting and auditing framework.

significant financial statement items-their presentation in the financial statements, relevant RBI guidelines, etc.
Part II – Audit Approach and Procedures

Basic audit considerations in branch office vis a vis head office

audit procedures for each of the financial statement item discussed in Part I.
Part III - Long Form Audit Reports

LFAR in branches

LFAR in head office
Part IV - Special Aspects

Special aspects such as Ghosh Jilani Committee requirements

SLR certification, etc., respectively.

The Guidance Note comes with a CD pasted at the inside of its back cover. This CD contains the text of relevant circulars of the RBI. The CD is not to be sold separately.

How to Get a Copy

The Guidance Note is available for sale at the sales counters of all the ICAI’s Regional Councils/ their branches near you.

If however, you are unable to get one from there, you can send a Demand Draft of Rs.400/- plus courier charges as applicable (courier in Delhi – Rs. 15/-, courier outside Delhi – Rs. 50/-). The DD should be in favour of The Secretary, The Institute of Chartered Accountants of India payable at New Delhi. The DD can be sent at the following address:

Assistant Secretary (STORES)

The Institute of Chartered Accountants of India,

ICAI Bhawan
, C–1, Sector-1,

NOIDA – 201 301.

Tel.: 0120 – 3054 802

In case you need any further information, drop in a mail at aasb@icai.org or noidastores@icai.org or call at 0120 –3054 815.