Audit of Banks
Audit of Banks
Audit of Banks
1 – Banking Operations
Types of Bank Commercial Banks
Regional Rural Banks
Co-operative Banks.
Payment Banks
Development Banks (more commonly known as ‘Term-Lending
Institutions’).
Small Finance Banks.
Regulatory Body In India, banking industry is regulated by the Reserve bank of India
(RBI) known as the Central Bank.
Major functions and responsibilities of RBI are :
Identifying and The auditor is required to identify and assess following risk:
assessing RMM RMM
Risk of fraud including money laundering
Specific Risks
Risk associated with outsourcing of activities
Understanding An effective risk management system in a bank generally
the Risk requires the following:
Management
Process involvement in the control
process by TCWG