Bank Statutory Audit
Statutory central and branch audit for public sector, private and co-operative banks.
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What We Do
Banking & Financial Services
A full BFSI practice - statutory, concurrent, revenue, inspection and treasury audit for banks; and for NBFCs, everything from registration and risk-based internal audit to KYC audit, loan file verification, physical verification and certification.
A dedicated BFSI team
Banking and NBFC audit is its own discipline. The reporting formats, the classification norms, the supervisory expectations and the pace of a concurrent engagement have little in common with a corporate audit, and the NBFC framework has tightened faster than almost any other area of Indian regulation. The firm maintains a separate BFSI team for exactly that reason, and its support staff includes former bankers.
Services
What this practice covers
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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Revenue, Inspection & Treasury Audit
Revenue leakage, branch inspection, currency chest and treasury operations audit.
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Co-operative Banks & Credit Societies
Statutory, internal and concurrent audit and advisory for urban co-operative banks, district central banks and credit societies.
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NBFC Registration & Compliance
Registration, layer classification, capital adequacy, regulatory returns and the policy framework an NBFC is expected to operate.
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KYC & AML Audit
Customer due diligence, risk categorisation, record-keeping and transaction monitoring, tested against the applicable KYC and anti-money-laundering directions.
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Risk-Based Internal Audit
An independent internal audit function for banks and NBFCs, planned by risk rather than by rotation.
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Loan & Credit File Verification
Pre- and post-disbursement verification of credit files, security documentation, end-use and compliance with sanction terms.
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Physical & Asset Verification
On-site verification of hypothecated stock, book debts, fixed assets, gold and securities held against advances.
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Regulatory Certification
The certificates banks, NBFCs and their regulators require - issued on work actually performed.
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IT & System Audit
Information systems audit by qualified DISA professionals - controls, access, data integrity and regulatory IT requirements.
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Who leads this
Partner contacts
CA Bajarang Ramachandra Sawant
Senior Partner
FCA · B.Com
CA Vanesh Kumar Nadar
Partner
FCA · LLB · B.Com · DISA (ICAI)
CA Siddhesh Warhadi
Partner
FCA · CS · LLB · B.Com · DISA (ICAI)
Also from the firm
Our other practices
Assurance, Tax & Advisory
Statutory and internal audit, direct and indirect tax, transfer pricing, accounting, and the regulatory and forensic work that sits alongside them.
Capital Advisory
IPO readiness and SME listing, debt and equity fund raising, valuation, transaction diligence, and compliance support for AIFs and portfolio managers.
Value Added Services
Virtual CFO, business advisory, ESG and BRSR reporting, and start-up support - senior judgement brought to bear on decisions, rather than opinions issued after them.
Staffing & Supervision
Qualified accounting and finance professionals placed into your team, on secondment or for a defined engagement - and independent senior oversight of a finance function you already run.
Technology Solutions
Process automation, web and mobile applications, custom software, and IT and system audit - delivered by a specialised in-house team.
Talk to us about banking & financial services
A short conversation is usually enough to establish whether this is the right route, and what it would involve.