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Banking & Financial Services

Bank Statutory Audit

Statutory central and branch audit for public sector, private and co-operative banks.

Overview

Bank statutory audit runs to a compressed calendar against prescribed formats, and the judgement concentrates in a few places: asset classification, income recognition, provisioning and the adequacy of the underlying records. The work rewards teams that have done it before and know where the year-end pressure points sit.

What this covers

How we help

Statutory branch audit

Branch-level audit and reporting in the prescribed formats.

Statutory central audit

Consolidation-level audit and reporting for the bank as a whole.

Asset classification review

Income recognition, asset classification and provisioning norms.

Long form audit report

Preparation of the long form audit report and related certifications.

Tax audit and certification

Tax audit and the certificates banks require for regulatory purposes.

Who leads this

Partner contact

Common questions

Bank Statutory Audit — questions we are asked

Sawant & Kadrekar LLP holds RBI empanelment in Category I, and is empanelled with the Comptroller and Auditor General. The firm is also registered on the Multipurpose Empanelment Form each year; details are provided on request. Allotment of any particular audit remains a matter for the appointing authority.

Related

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Concurrent Audit

Continuous branch-level audit that catches an exception in the month it happens, not in the year it is reported.

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Talk to us about bank statutory audit

A short conversation is usually enough to establish whether this is the right route, and what it would involve.

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