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The Institute of Chartered Accountants of India (ICAI), through its Auditing and Assurance Standards Board (AASB), has released the Exposure Draft of the "Guidance Note on Audit of Banks (2026 Edition)", inviting public comments from stakeholders by February 23, 2026. The revised Guidance Note is expected to significantly impact statutory central auditors (SCAs), branch auditors, banking professionals, and financial reporting teams across India, aligning audit procedures with the latest regulat
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FAQ :
The ICAI has released an exposure draft of its 'Guidance Note on Audit of Banks (2026 Edition)' to update audit procedures in line with the latest RBI regulations.
The revised guidance note is expected to impact statutory central auditors, branch auditors, banking professionals, and financial reporting teams across India.
The draft covers both central and branch audits, with specific sections on Personal Banking, Retail Banking, Treasury Operations, IT and Digital Banking, Risk Management, and GST Compliance, among others.
The draft emphasizes compliance with updated KYC/AML norms, digital banking units, external benchmark-linked lending, securitisation, and asset classification, reflecting late 2025 RBI Master Directions.
Stakeholders are invited to submit their comments by February 23, 2026.
Yes, special attention is given to audit procedures for overseas branches and IFSC Banking Units (IBUs), including capital adequacy, liquidity, and AML compliance.
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