GUIDANCE NOTE ON AUDIT OF BANKS (2008 Edn.)

CA Harbinder (CA ) (1245 Points)

28 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

„h

ƒn information about the banking

„h

ƒn its legal framework

„h

ƒn accounting and auditing framework.

„h

presentation in the financial

statements, relevant RBI guidelines,

etc.

ƒn significant financial statement itemstheir

Part II

Audit Approach and Procedures

„h

office

ƒn Basic audit considerations in branchvis a vis head office

„h

financial statement item discussed in

Part I.

ƒn audit procedures for each of the

Part III - Long Form Audit Reports

„h

ƒn LFAR in branches

„h

ƒn LFAR in head office

Part IV - Special Aspects

„h

Committee requirements

ƒn Special aspects such as Ghosh Jilani

„h

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

How to Get a Copy

ƒn SLR certification, etc., respectively.. The CD is not to be sold separately.

The Guidance Note is

the sales counters

available for sale atof all the ICAI’s

Regional Councils/ their branches near you.

OR

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

Delhi

favour of

Chartered Accountants of India

New Delhi. The DD can be sent at the

following address:

Assistant Secretary (STORES)

The Institute of Chartered Accountants of

India,

Rs. 15/-, courier outsideRs. 50/-). The DD should be inThe Secretary, The Institute ofpayable at

ICAI Bhawan

NOIDA

, C1, Sector-1,201 301.

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 us at 0120

3054 815.

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