RBI revises Long Format Audit Report for Banks to help detect frauds
Another announcement by RBI in a row signifying imp. of Corporate Governance and Risk Management vide. circular dt. 12.9.20:
RBI revises Long Format Audit Report for audit period covering FY2020-21 & onwards for Banks to help detect Frauds
RBI has published revised formats of the Long Format Audit Report for banks after considering the large scale changes in the size, complexities, business model and risks in the banking operations, in consultation with the stakeholders, including the Institute of Chartered Accountants of India (ICAI).