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One-stop-reference book (with Hints & Check-Lists) for branch auditors with complete & current contents. This book is written with the objective of reducing the audit risk, besides documenting the audit work simultaneously.
This book is useful for auditors in accomplishing their branch audit in a more purposeful manner & bringing more comfort to the Statutory Central Auditors, Boards and Management.
The Present Publication is the 5th Edition & amended up to 1st March 2021, authored by CA Ishwar Chandra, with the following noteworthy features:

• New Chapters on Audit of Special Mention Accounts & Audit of Provisioning
• Revised chapters on CBS Environment: Useful System Generated Reports & CBS reports which are helpful for the auditors (which are also available in Finacle 10, BaNCS and Flexcube), have been added
• Changes made by RBI’s extant guidelines & ICAI Standards on Auditing have been added in the following chapters:
  o Audit of Income Recognition & Asset Classification (IRAC)
  o Audit of Restructurings
  o Performing General Ledger & Profit and Loss Audit
• RBI’s LFAR Review has been added in the chapter of LFAR Procedures, which seeks information from banks’ head office and from the brancher, various formats suggested to collect the information have been modified based upon such new audit requirements
• Procedures for Accepting/ Planning/ Performing and Reporting an Audit, along-with audit procedures for Branch Audit/ LFAR/ Tax Audit and Special Purpose Certifications
• The contents of the book are as follows:
  o Introduction to Audit of Financial Statements
  o Pre-Acceptance Procedures
  o Post-Acceptance Procedures
  Planning Considerations
  o CBS Environment: Useful System Generated Reports
  o Offsite Planning
  o Onsite Planning
  o Performing Preliminary (Routine) Audit Procedures
  o Audit of New Advances
  o Audit of Credit Monitoring
  o Audit of Special Mention Accounts (SMA)
  o Audit of Income Recognition and Asset Classification
  o Audit of Provisioning
  o Audit of Restructuring of Advances
  o Performing General Ledgers (GL) and Profit & Loss (PL) Audit Procedures
  o Long Form Audit Reporting (LFAR) Procedures
  o Tax Audit Reporting Procedures
  o BASEL Verification Procedures
  o Special-Purpose Certification Procedures
  o Issuing Independent Auditor’s Report