Bank Audit - 5. page

Implementation of the Ghosh Committee Recommendations The RBI set up a High Level Committee on Frauds and Malpractices in Banks under the Chairmanship of Shri A. Ghosh, the then Dy. […]

Audit Approach The SBAs may verify the contents of certificates to be issued at branch level. All the Returns submitted by branch to various higher authorities of the respective bank […]

Other Reports or Certificates In addition to their audit reports, the SBAs and SCAs may also be required by their terms of engagement or statutory or regulatory requirements to issue […]

Compliance with Implementation of Ghosh & Jilani Committee Recommendations : The RBI in its efforts towards ensuring a strong, efficient and resilient banking system in the country, vide its Circular […]

Disclosure (Pillar 3) Pillar 3 aims primarily at disclosure of a bank’s risk profile and capital adequacy. It is recognised that the Pillar 3 disclosure framework does not conflict with […]

Role of auditors of banks Based on RBI appointment letter, the external auditors of the bank are required to provide a certification on the capital adequacy ratio computation. The auditor […]

Role of branch auditors In case of credit risk management, the underlying computation for Basel III is based on credit ratings, which may be driven centrally and passed onto branches […]

Reporting of Frauds The Reserve Bank of India vide its Master Direction No: DBS.CO.CFMC.BC.No.1/23.04.001/2016-17 Dated July 01, 2016 on “Frauds- Classification and Reporting”, issued guidelines for classification of frauds and […]

Qualitative Standard for Operational Risk Management System (ORMS) A bank should have techniques for allocating operational risk capital to business lines, among various legal entities and across the banking group […]

Essential Data Elements of an AMA Model A bank should include in its ORMS the use of the following four AMA elements:  internal data;  relevant external operational risk […]