Assessment of Inherent and Control Risks : The nature of banking operations is such that the auditors may not be able to reduce audit risk to an acceptably low level […]
Bank Audit - 61. page
Role and responsibilities of the Bank
Role and responsibilities of the Bank : Considering the importance of IT systems in the preparation and presentation of financial statement, it is imperative that the bank should share the […]
Responsibility of Central Auditor vis-à-vis Branch Auditor in fully computerised bank
Responsibility of Central Auditor vis-à-vis Branch Auditor in fully computerised bank : Banks, which have high level of computerisation and centralisation, equally have a high level of decentralisation of processes […]
Demonetisation
Demonetisation : Consequent to the announcement made by the Honourable Prime Minister, Shri. Narendra Modi on 8th November, 2016 regarding the withdrawal of the existing currency notes of denomination of […]
Risks Associated with the Banking Activities
Risks Associated with the Banking Activities : Risk is a function of probability or likelihood of occurrence and the significance of the impact. Risk implies vulnerability and threat. The key […]
Special Considerations in a CIS Environment
Special Considerations in a CIS Environment : As per SA 315, “Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment”, the overall objective and […]
Categorisation of Banks based on level of Computerisation
Categorisation of Banks based on level of Computerisation : Banks may be divided into three board categorises based on the level of computerisation: Non-computerised banks Partially Computerised banks […]
Response to the Assessed Risks
Response to the Assessed Risks ; SA 330, “The Auditor’s Responses to Assessed Risks” deals with the auditor’s responsibility to design and implement responses to the risks of material misstatement identified […]
Risk Control Matrix (RCM)
Risk Control Matrix (RCM) : The various risks, both at the financial statement level and at the process level which are assessed together with the controls relevant against the same […]
Stress Testing
Stress Testing ; Globally, banks are increasingly relying on statistical models to measure and manage the financial risks to which they are exposed. These models are gaining credibility because they […]