Bank Auditing is a specialized audit that requires a deep understanding of banking regulations, financial instruments, risk management practices, and compliance frameworks.
Given the complexity and sensitivity of financial institutions, independent audits are critical to ensure accuracy, transparency, regulatory adherence, and trustworthiness.
Statutory Bank Audits:
Conducting audits as per guidelines of the Reserve Bank of India (RBI) to verify the accuracy of financial statements and compliance with applicable laws.
Concurrent Audits:
Performing ongoing audits of financial transactions, loan disbursements, investments, and operational activities to ensure real-time compliance and control.
Revenue Audits:
Reviewing income streams such as interest income, fee-based income, and commission earnings to ensure accurate reporting and revenue leakage prevention.
Stock and Book Debt Audits:
Verifying the stock and debtors of borrowers under banking arrangements to validate asset quality and ensure credit discipline.
Forensic Audits and Fraud Investigations:
Specialized audits to detect financial irregularities, identify frauds, and assist banks in taking corrective legal actions.
Internal Audits:
Evaluating internal controls, risk management practices, and operational efficiency within banking institutions.
Credit Audits:
Reviewing loan portfolios, documentation, sanctioning processes, and post-disbursement monitoring to mitigate credit risks.
Treasury and Forex Audits:
Assessing treasury operations, investment portfolios, and foreign exchange transactions for compliance and risk management.