The Institute of Chartered Accountants of India (ICAI) has established an online panel of experts to assist members with queries related to bank branch audits for the financial year 2019-20. This initiative by the Auditing and Assurance Standards Board (AASB) aims to provide prompt support for common issues encountered during these audits, such as NPA determination and reporting requirements. Members can submit their questions via email to bankauditfaq@icai.in, and the panel will provide expert guidance.
AUDITING AND ASSURANCE STANDARDS BOARD
CONSTITUTES ONLINE PANEL OF EXPERTS FOR ADDRESSING BANK BRANCH AUDIT
RELATED QUERIES FOR THE FINANCIAL YEAR 2019-20
Dear Members,
The bank audit season is around the corner. Given the fact that the banking industry is typical in terms of its geographical and customer spread, the volume and varied nature of products and services offered, coupled with the strict constraints for completing the audits, the members, many a times, face lot of issues/ quer
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FAQ :
The online panel has been set up by the Auditing and Assurance Standards Board (AASB) of ICAI to help members resolve queries related to bank branch audits for the financial year 2019-20.
This online support facility is available for members of the ICAI who are conducting bank branch audits.
Members can submit their queries by sending an email to bankauditfaq@icai.in.
Members can ask about various issues such as determining NPA status, understanding RBI circular implications, documentation adequacy, reporting on Long Form Audit Reports, and other specific matters related to bank branch audits.
The online support facility became available from May 02, 2020, for bank branch audits for the year ended 31st March 2020.
No, the views expressed by the experts are their personal views and not necessarily those of the Auditing and Assurance Standards Board (AASB) or the Institute of Chartered Accountants of India (ICAI).