What the engagement covers.
The firm undertakes statutory bank-branch audit work under panel allotments. Engagements run during the bank's audit window each year, with branch teams supervised directly by a partner.
Areas reviewed
- Advances — classification, asset quality, and provisioning per RBI master directions
- Income recognition and asset classification (IRAC) compliance
- Large-credit and consortium-advance review
- NPA classification, restructuring, and provisioning
- KYC and anti-money-laundering (AML) compliance
- Investments, derivatives, and treasury balances at branch level
- Profit and loss certification, including interest accrual reconciliation
- Compliance with internal control framework and the bank's audit charter
Approach
Bank-branch audit is delivered against the timeline the bank prescribes, with the firm's team mobilised at branch under partner supervision. Long-form audit reports (LFAR) and the certificates the bank requires are prepared and signed at engagement closure.
Information-systems audit components are integrated where the branch's systems and the audit's scope require it, supported by the firm's DISA-qualified partners.