RBI directs for submission of system audit reports from CISA qualified Auditor

RBI/2010-11/563

DPSS.CO.OSD. No. 2764/06.11.001/2010-2011

June 14, 2011

To
All Scheduled Commercial Banks

Dear Sir,

Directions for submission of system audit reports from CISA qualified Auditor

Please refer to our circular Ref No. DPSS.1444/ 06.11.001/ 2010-2011 dated December 27, 2010 on the captioned subject.

It is clarified that the contents of the above circular are applicable to only those entities which operate a payment system under the Payment and Settlement Systems Act, 2007. Accordingly, the requirement of system audits is not applicable where a bank/entity is a participant in various payment systems such as RTGS, NEFT, CFMS, ECS, NECS, Card payment systems (Visa, MasterCard, etc.), ATM networks (illustratively like NFS, BANCS) etc.

Please acknowledge receipt.

Yours faithfully

G. Srinivas
(General Manager)

_______________________

Note : circular Ref No. DPSS.1444/ 06.11.001/ 2010-2011 dated December 27, 2010 is mentioned below

Directions for submission of system audit reports from CISA qualified Auditor

RBI/2010-11/340
DPSS.CO.OSD. No. 1444 /06.11.001/2010-2011

December 27, 2010

To 
All Scheduled Commercial Banks / Authorised Payment System Operators

Dear Sir,

Directions for submission of system audit reports from CISA qualified Auditor

Please refer to our circular Ref No. DPSS.1206/ 02.27.005/2009-10 dated 7th December 2009 on the captioned subject.

2.   All authorised entities are advised to furnish their respective system audit reports from a CISA qualified auditor on an annual basis. Authorised entities which follow an April-March financial year, the system audit report should be submitted within two months i.e. by 1st June of that year. Authorised entities, which follow a calendar year annual closing, are advised to submit their system audit reports by 1st March of the following year.

3.   These directions are issued under Section 6(1) of the Payment and Settlement Systems Regulations 2008 read with Section 12 of the Payment and Settlement Systems Act, 2007.

Yours faithfully

G. Srinivas
(General Manager)