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The Institute of Chartered Accountants of India (ICAI) has issued the 2026 edition of its Guidance Note on Audit of Banks, introducing updated audit practices aligned with the latest regulatory and technological developments in the banking sector. The revised guidance incorporates directions and circulars issued by the Reserve Bank of India (RBI) up to February 28, 2026 and emphasizes the need for auditors to stay updated with ongoing regulatory changes impacting bank audits. The Guidance No
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FAQ :
It is a revised set of updated audit practices issued by the ICAI for the audit of banks, incorporating the latest regulatory and technological developments.
The guidance note incorporates directions and circulars issued by the Reserve Bank of India up to February 28, 2026.
The Guidance Note is divided into two key sections: Statutory Central Audit and Bank Branch Audit.
It covers critical areas such as treasury operations, digital banking audits, risk management, and GST compliance.
The ICAI highlights emerging risks like cybersecurity threats, data integrity concerns, and operational complexities in banking systems due to increased reliance on digital platforms.
The updated framework aims to help auditors strengthen internal controls, ensure compliance, and improve financial reporting quality, thereby enhancing audit quality and maintaining financial stability.
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