ICAI Guidance Note on Audit of Banks, 2026 edition
The Institute has released its updated Guidance Note on Audit of Banks, incorporating recent regulatory changes relevant to statutory and concurrent bank auditors.
Source · ICAI
The Mandate
Bank audit findings are read by regulators as closely as by boards. Our opinion is built to hold under both.
Where We Are Engaged
- Statutory branch audit
- Concurrent audit
- Stock & receivables audit
- Revenue & credit audit
- Inspection & asset-classification review
Why It Sits With Us
The firm has stood on the audit panels of public sector and regional rural banks since the 1980s — more than thirty-five years of continuous, panel-tested engagement with the sector that carries the heaviest regulatory scrutiny in Indian finance.
How We Work
- Fieldwork planned against RBI inspection-cycle expectations, not only internal bank timelines
- Asset-classification and provisioning judgement documented to a standard that anticipates supervisory review
- Findings escalated promptly and in writing — never smoothed for comfort