A warm welcome to the How to conduct Bank Audit and become a Bank Auditor course by Uplatz.

A Bank Audit is a regular evaluation of the organization's records and services to verify that they are in conformity with industry rules and regulations. Banks must undergo a variety of audits, including statutory audits, revenue audits, concurrent audits, and so on. This may be done by external or internal organizations. A bank audit is a process carried out by an auditor designated by the RBI (Reserve Bank of India) and the ICAI (The Institute of Chartered Accountants of India) to review the financial accounts of banking institutions and to determine if they are complying with the legislation and regulatory framework in place.

In essence, bank audit is a process in which a bank's financial statements are audited by an auditor designated by the RBI and the ICAI to determine if the bank is in compliance with the appropriate regulatory framework. It is not something that is done on a daily basis or throughout the year but instead, for the vast majority of auditors and audit firms, it is a once-a-year effort, and as a consequence, most auditors' understanding of crucial areas will be restricted.

The Certification for Bank Auditors (CBA) is a credential for bankers who want to advance their status and authority in internal auditing. The CBA curriculum is meant to fit with current knowledge and employs an integrated yet customizable framework for internal auditing, giving more credibility to contemporary audit technique with a focus on IT audit. The current CBA is an upgrade of the Asian Institute of Chartered Bankers' Certificate in Internal Auditing for Financial Institutions (CIAFIN) (AICB).

In order to comply with legal and jurisdictional requirements, laws, and industry standards, every financial service organization must undertake audits on a regular basis. A bank auditor is a kind of accounting professional that does bank audits. A bank audit may be conducted as an internal audit, which is conducted by a financial institution employee, or as an external audit, which is conducted by an independent auditor under the supervision of a certified public accountant (CPA). A financial company must keep track of all transactions at all times. A comprehensive and unabating review system is required for a business like a bank. As a result, a concurrent audit is required. A bank audit is a simultaneous inspection of financial transactions, i.e. an examination that takes place at the moment the transaction occurs. It is a component of a bank's early warning system for detecting breaches or abnormalities in a timely manner.

This Bank Audit course gives a thorough conceptual and practical introduction to auditing in the modern world. It focuses on principles and applications relevant to the professional obligations of financial-statement auditors, as well as important aspects of the audit process such as risk assessment and audit reporting. Financial statement audits and associated services are usually offered by Certified Public Accountants in the United States (CPAs). This bank audit course stimulates critical thinking and careful communication skills concerning audit professionals' decision contexts, decision processes, and deliverables.

This Bank Audit course is best suited for professionals who have in-depth understanding of the subject or who want to broaden their knowledge base, and who are in a mid-level position within an organization with operational or supervisory duties, or both. The bank audit will look at trust preferred securities, financial guarantees, financial asset transfers and servicing, and much more. This training will also be most useful to individuals new to bank and financial institution accounting who may be at the staff or entry level in the business, as well as seasoned professionals with limited exposure to bank and financial institution accounting. The ultimate goal of this course is to help you understand the end-to-end process of how to conduct bank audit and finally how to become a bank auditor.

Course Objectives

• To augment banks' efforts in conducting internal checks of transactions and other verifications, as well as compliance with established processes

• To increase the efficacy of banks' concurrent audit systems

• To improve the quality and scope of concurrent audit reports

• How to conduct bank audit

• How to become a bank auditor

How to conduct Bank Audit and become a Bank Auditor - Course Syllabus

1. What is a bank?

2. What are the types of banks?

3. What are the banking operation and regulatory and legal frameworks of bank in India?

4. What is the accounting system of banks?

5. What will be the approach of bank audit?

6. What is the income recognition system of bank?

7. Who will be eligible to appoint as an auditor of the bank?

8. What will be the eligibility, qualifications and disqualifications of auditor?

9. What will be the amount of remuneration of auditor?

10. What are the powers of auditor?

11. What will be the form and content of financial statements of the bank?

12. How to conduct audit of bank?

13. What will be the internal control in certain selected areas?

14. What is the compliance with CRR and SLR requirements?

15. How to verify the assets of the bank?

16. How to verify the capital & liabilities of the bank?

17. What is the bank audit reports and type of bank audit reports?

18. What will be the format of bank audit report?

19. What are advances?

20. How to conduct audit of advances?

21. How to conduct audit of revenue items?

22. How to compute drawing power?

23. What is Concurrent audit of bank?

24. What is Audit Committee?