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Guidance note on audit of Bank

Posted on 12 March 2008,    
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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 or or call at 0120 –3054 815.


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