Statutory Banking Practice • Financial Assurance

Statutory Bank Branch Audits & Financial Assurance

Independent Chartered Accountancy assurance for Scheduled Commercial Banks and financial institutions, delivering rigorous statutory branch audits, Long Form Audit Reports (LFAR), concurrent reviews, and borrower drawing power inspections.

Statutory Branch Audit

Year-end statutory audit of advances, non-performing assets (NPA) classification under RBI IRAC norms, collateral verification with CERSAI, and comprehensive LFAR reporting.

IRAC Norms • LFAR Compliance

Concurrent & Revenue Review

Real-time operational review of daily branch operations, high-value remittances, forex transactions, cash limit adherence, KYC/AML verification, and income leakage prevention.

Real-Time Operations • KYC/AML

ICAI Peer Review Certified

Holds active Peer Review Certificate No. 017492 (valid through 31st August 2027) issued by the Peer Review Board of ICAI, certifying adherence to quality standards.

Cert: 017492 • Valid to 2027

Banking Assurance Disciplines

1. Statutory Branch Audit & LFAR

Year-end audit of loan portfolios, advances, non-performing assets (NPA) classification in accordance with RBI Master Circular on IRAC norms, verification of collateral charges with CERSAI, and detailed Long Form Audit Report (LFAR) disclosures.

2. Concurrent & Revenue Audits

Real-time operational review of daily branch operations, high-value remittances, forex transactions, cash limit adherence, KYC/AML verification, and income leakage detection across interest computations and service charges.

3. Stock & Credit Inspections (DP Audits)

Physical inspection and valuation of raw materials, work-in-progress, and finished goods inventories for corporate borrowers. Verification of debtors age-wise breakdown (< 90 days) to accurately certify Drawing Power (DP) for consortium banks.

4. Forensic & Special Investigatory Audits

Tracing of fund diversions, fund siphoning, circular transactions, and wilful default indicators under RBI Red Flagged Accounts (RFA) and early warning signals (EWS) frameworks.

Banking Practice Desk

Banking Assurance Inquiries

Engage with our senior partners regarding statutory branch audits, borrower stock inspections, and forensic risk reviews.

Contact Banking Desk
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