https://www.taxtmi.com/news?id=13985 Guidance Note consolidates updated audit and reporting obligations for bank statutory audits, aligning audit planning, risk assessment and evidence procedures with RBI circulars, Companies Act requirements and Standards on Auditing. It emphasises the specialised audit approach for banks (branch networks, product complexity, IT systems), mandates attention to KYC/AML, fraud reporting to RBI per engagement terms, preparation of Long Form Audit Reports, reconciliation of branch and head-office records, evaluation of IPE and IT controls, and appropriate disclosure of unaudited branch amounts and capital adequacy components in financial statements. en-us Wed, 25 Feb 2015 11:18:56 +0530 Wed, 11 Feb 2026 15:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13985 Guidance Note consolidates updated audit and reporting obligations for bank statutory audits, aligning audit planning, risk assessment and evidence procedures with RBI circulars, Companies Act requirements and Standards on Auditing. It emphasises the specialised audit approach for banks (branch networks, product complexity, IT systems), mandates attention to KYC/AML, fraud reporting to RBI per engagement terms, preparation of Long Form Audit Reports, reconciliation of branch and head-office records, evaluation of IPE and IT controls, and appropriate disclosure of unaudited branch amounts and capital adequacy components in financial statements. News - Wed, 25 Feb 2015 11:18:56 +0530 https://www.taxtmi.com/news?id=13985