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Author: Indian Institute of Banking & Finance
Publisher: Taxmann Publications Private Limited
ISBN: 935778599X
Category : Law
Languages : en
Pages : 17
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Book Description
The Bankers' Handbook on Auditing was developed to address the most important aspects of bank auditing. It underscores the interlinkage and importance of an organisation's robust accounting and auditing systems. The focus area of this handbook revolves around the following: • Introduction & Types of Audit • Internal Audit • Audit in a Computerised Environment • Audit Aspects of Financial Statements of Banks This book aligns with regulatory compliance and operational efficiency, especially in bank accounting and audit functions. The current edition has also been updated based on banking experts and internal faculty feedback, focusing on practicality and current digital trends. The Present Publication is the 2024 Edition, updated by Mr Sampath Kumar K S, CA (Former Deputy General Manager – Indian Overseas Bank) and vetted by Mr Anil B Rane, B.Com. & LLB (Former General Manager – Bank of India). Taxmann exclusively publishes this book for the Indian Institute of Banking and Finance with the following coverage: • Introduction & Types of Audit – This section provides an overview of the evolution, definition, and importance of auditing, exploring various audit types along with their scope, objectives, and limitations. It distinguishes between auditing, accounting, and investigation, laying a foundational understanding for readers • Bank Audit & Types – Focusing on the banking sector, this part delves into the significance of risk-based internal audits and provides a detailed examination of different types of bank audits, including concurrent, internal, and statutory audits • Risk-Based Supervision (RBS) – The book examines the objectives, focus, and reasons for adopting Risk-Based Supervision in banking. It discusses supervisory tools, the SPARC framework, and provides insights into the Risk Discovery Process and the IRISc Model • Internal Audit's Role in Governance – This section traces the evolution and the multifaceted roles of internal audit, emphasising its crucial role in corporate governance • Risk-Based Internal Audit in Banks – Here, the book explains the concept of risk-based auditing and its practical implementation in banks, including guidelines, standards, and ethics set by the RBI and MOF • Risk-Based Internal Audit Procedures – Offering an in-depth look at internal audit processes, this part focuses on audit prioritisation, reporting, and strategies for tackling auditing challenges • Risk Management – It defines and discusses the relationship between internal auditing and risk management, covering the architecture of risk management and the auditor's role in this context • Data Analytics and Continuous Controls Monitoring – The section highlights the use of data analytics in business and audit decisions and outlines the techniques and benefits of continuous controls monitoring and auditing • Audit in Computerised Information System (CIS) Environment – This part provides an understanding of the CIS environment and its impact on auditing, including an examination of auditing standards and approaches relevant to CIS • Audit in a Computerised Environment – An analysis of how computer systems affect internal control, along with a review of RBI guidelines for IS audit and risk management in such environments • Audit Aspects of Advances – The book examines advances reflected in balance sheets, including audit procedures and coverage of agricultural advances, NPA norms, and loan document reviews • Audit Aspects of Financial Statements | Assets Side – An overview of disclosure requirements and balance sheet analysis, focusing on assets like fixed assets and other assets, along with their audit procedures • Audit Aspects of Capital, Reserves, Borrowings, & Deposits – This part presents a detailed analysis of capital, reserves, and surplus in financial statements, including audit approaches and procedures for borrowings and deposits • Audit Aspects of Other Liabilities & Provisions – Examination of other liabilities, provisions, and contingent liabilities, along with a review of bills for collection and associated audit approaches • Audit Aspect of Treasury Operations – Insights into treasury operations, including forex and derivative transactions, and an understanding of investments, CRR, SLR requirements, and audit procedures • Audit Aspects of Profit and Loss Account – This section covers the preparation and disclosure in the profit and loss account, detailing audit procedures for income and expenditure • Disclosure Requirements in Financial Statements – Highlights the importance and classification of disclosures in financial statements and the requirements of statutes and listing agreements • Audit Aspects of Consolidation of Branch Accounts – Discusses the process and approach to the consolidation of financial statements at various levels, including overseas branches • Audit Aspects of Consolidation of Financial Statements – Guidelines on consolidated accounting and supervision, and components and audit procedures for consolidated financial statements • Audit Aspect of Inter-Office Transactions – An overview of major transactions and errors in inter-branch transactions, along with audit approaches and procedures for these transactions • Long Form Audit Report of Bank Branches – Definition, purpose, and steps in dealing with LFAR, including guidelines and important aspects for branch statutory auditors • Long Form Audit Report of Head Office – Coverage and audit aspects of LFAR at the head office level, including the implementation of committee and RBI recommendations • Basel III Regulations and Disclosures – An overview of Basel III norms and the disclosure framework, along with the role of auditors in ensuring compliance with these regulations • Database Security Audit – Exploration of database security and audit principles, focusing on audit techniques, security authentication, and audit trails • Remote Auditing – Understanding remote auditing, its advantages, limitations, and ISO guidelines, along with RBI/ICAI guidelines on remote auditing The detailed contents of this book are as follows: • Module A – Introduction and Types of Audit o Introduction to Auditing and Types of Audit o Bank Audit and Various Types of Audit in Banks o Risk-Based Supervision – A New Approach • Module B – Internal Audit o Internal Audit – Role in Overall Governance o Risk-based Internal Audit in Banks o Risk-Based Internal Audit Procedures o Risk Management o Data Analytics and Continuous Controls Monitoring • Module C – Audit in Computerised Environment o Audit in Computerised Information System (CIS) Environment – An Introduction o Audit in a Computerised Environment • Module D – Audit Aspects of Financial Statements of Banks o Audit Aspects of Advances o Audit Aspects of Bank's Financial Statements – Assets Side (Other than Advances) o Audit Aspects of Capital, Reserves & Surplus and Borrowings & Deposits o Audit Aspects of Other Liabilities & Provisions and Contingent Liabilities o Audit Aspect of Treasury Operations – Forex & Derivative Transactions o Audit Aspects of Profit and Loss Account o Disclosure Requirements in Financial Statements o Audit Aspects of Consolidation of Branch Accounts o Audit Aspects of Consolidation of Financial Statements o Audit Aspect of Inter-Office Transactions o Long Form Audit Report of Bank Branches o Long Form Audit Report of Head Office/Central Office o Basel III Regulations and Disclosures o Database Security Audit o Remote Auditing
Author: Indian Institute of Banking & Finance
Publisher: Taxmann Publications Private Limited
ISBN: 935778599X
Category : Law
Languages : en
Pages : 17
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Book Description
The Bankers' Handbook on Auditing was developed to address the most important aspects of bank auditing. It underscores the interlinkage and importance of an organisation's robust accounting and auditing systems. The focus area of this handbook revolves around the following: • Introduction & Types of Audit • Internal Audit • Audit in a Computerised Environment • Audit Aspects of Financial Statements of Banks This book aligns with regulatory compliance and operational efficiency, especially in bank accounting and audit functions. The current edition has also been updated based on banking experts and internal faculty feedback, focusing on practicality and current digital trends. The Present Publication is the 2024 Edition, updated by Mr Sampath Kumar K S, CA (Former Deputy General Manager – Indian Overseas Bank) and vetted by Mr Anil B Rane, B.Com. & LLB (Former General Manager – Bank of India). Taxmann exclusively publishes this book for the Indian Institute of Banking and Finance with the following coverage: • Introduction & Types of Audit – This section provides an overview of the evolution, definition, and importance of auditing, exploring various audit types along with their scope, objectives, and limitations. It distinguishes between auditing, accounting, and investigation, laying a foundational understanding for readers • Bank Audit & Types – Focusing on the banking sector, this part delves into the significance of risk-based internal audits and provides a detailed examination of different types of bank audits, including concurrent, internal, and statutory audits • Risk-Based Supervision (RBS) – The book examines the objectives, focus, and reasons for adopting Risk-Based Supervision in banking. It discusses supervisory tools, the SPARC framework, and provides insights into the Risk Discovery Process and the IRISc Model • Internal Audit's Role in Governance – This section traces the evolution and the multifaceted roles of internal audit, emphasising its crucial role in corporate governance • Risk-Based Internal Audit in Banks – Here, the book explains the concept of risk-based auditing and its practical implementation in banks, including guidelines, standards, and ethics set by the RBI and MOF • Risk-Based Internal Audit Procedures – Offering an in-depth look at internal audit processes, this part focuses on audit prioritisation, reporting, and strategies for tackling auditing challenges • Risk Management – It defines and discusses the relationship between internal auditing and risk management, covering the architecture of risk management and the auditor's role in this context • Data Analytics and Continuous Controls Monitoring – The section highlights the use of data analytics in business and audit decisions and outlines the techniques and benefits of continuous controls monitoring and auditing • Audit in Computerised Information System (CIS) Environment – This part provides an understanding of the CIS environment and its impact on auditing, including an examination of auditing standards and approaches relevant to CIS • Audit in a Computerised Environment – An analysis of how computer systems affect internal control, along with a review of RBI guidelines for IS audit and risk management in such environments • Audit Aspects of Advances – The book examines advances reflected in balance sheets, including audit procedures and coverage of agricultural advances, NPA norms, and loan document reviews • Audit Aspects of Financial Statements | Assets Side – An overview of disclosure requirements and balance sheet analysis, focusing on assets like fixed assets and other assets, along with their audit procedures • Audit Aspects of Capital, Reserves, Borrowings, & Deposits – This part presents a detailed analysis of capital, reserves, and surplus in financial statements, including audit approaches and procedures for borrowings and deposits • Audit Aspects of Other Liabilities & Provisions – Examination of other liabilities, provisions, and contingent liabilities, along with a review of bills for collection and associated audit approaches • Audit Aspect of Treasury Operations – Insights into treasury operations, including forex and derivative transactions, and an understanding of investments, CRR, SLR requirements, and audit procedures • Audit Aspects of Profit and Loss Account – This section covers the preparation and disclosure in the profit and loss account, detailing audit procedures for income and expenditure • Disclosure Requirements in Financial Statements – Highlights the importance and classification of disclosures in financial statements and the requirements of statutes and listing agreements • Audit Aspects of Consolidation of Branch Accounts – Discusses the process and approach to the consolidation of financial statements at various levels, including overseas branches • Audit Aspects of Consolidation of Financial Statements – Guidelines on consolidated accounting and supervision, and components and audit procedures for consolidated financial statements • Audit Aspect of Inter-Office Transactions – An overview of major transactions and errors in inter-branch transactions, along with audit approaches and procedures for these transactions • Long Form Audit Report of Bank Branches – Definition, purpose, and steps in dealing with LFAR, including guidelines and important aspects for branch statutory auditors • Long Form Audit Report of Head Office – Coverage and audit aspects of LFAR at the head office level, including the implementation of committee and RBI recommendations • Basel III Regulations and Disclosures – An overview of Basel III norms and the disclosure framework, along with the role of auditors in ensuring compliance with these regulations • Database Security Audit – Exploration of database security and audit principles, focusing on audit techniques, security authentication, and audit trails • Remote Auditing – Understanding remote auditing, its advantages, limitations, and ISO guidelines, along with RBI/ICAI guidelines on remote auditing The detailed contents of this book are as follows: • Module A – Introduction and Types of Audit o Introduction to Auditing and Types of Audit o Bank Audit and Various Types of Audit in Banks o Risk-Based Supervision – A New Approach • Module B – Internal Audit o Internal Audit – Role in Overall Governance o Risk-based Internal Audit in Banks o Risk-Based Internal Audit Procedures o Risk Management o Data Analytics and Continuous Controls Monitoring • Module C – Audit in Computerised Environment o Audit in Computerised Information System (CIS) Environment – An Introduction o Audit in a Computerised Environment • Module D – Audit Aspects of Financial Statements of Banks o Audit Aspects of Advances o Audit Aspects of Bank's Financial Statements – Assets Side (Other than Advances) o Audit Aspects of Capital, Reserves & Surplus and Borrowings & Deposits o Audit Aspects of Other Liabilities & Provisions and Contingent Liabilities o Audit Aspect of Treasury Operations – Forex & Derivative Transactions o Audit Aspects of Profit and Loss Account o Disclosure Requirements in Financial Statements o Audit Aspects of Consolidation of Branch Accounts o Audit Aspects of Consolidation of Financial Statements o Audit Aspect of Inter-Office Transactions o Long Form Audit Report of Bank Branches o Long Form Audit Report of Head Office/Central Office o Basel III Regulations and Disclosures o Database Security Audit o Remote Auditing
Author: Indian Institute of Banking & Finance
Publisher: Taxmann Publications Private Limited
ISBN: 9357788840
Category : Law
Languages : en
Pages : 16
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Book Description
This comprehensive guide is essential for understanding the multifaceted and dynamic nature of banking accounting. It meticulously covers every aspect of the field, from foundational principles to advanced accounting standards. It provides a deep understanding of the processes and practices pivotal in shaping financial reporting in the banking sector. It underscores the interlinkage and importance of an organisation's robust accounting and auditing systems. It serves as an essential resource for understanding the intricacies of banking accounting, covering the following: • Fundamental Principles of Accounting • Financial Statements of Banks • Preparation of Financial Statements of Banks & Taxation • Accounting Standards (Ind AS) The current edition has also been updated based on banking experts and internal faculty feedback, focusing on practicality and current digital trends. It is an invaluable resource for students, professionals, and anyone interested in banking accounting. It is structured to cater to both beginners and seasoned practitioners The Present Publication is the 2024 Edition, updated by Ms Anita Toshniwal | Chartered Accountant. Taxmann exclusively publishes this book for the Indian Institute of Banking and Finance with the following coverage: • Module A – Fundamentals of Accounting o Accounting | An Introduction – Explore the nature, purpose, and historical perspectives of Financial, Cost, and Management Accounting. Understand the origins and evolution of Accounting Principles o Accounting Process – Understand the Accounting Process, comparing Manual and Computerized Accounting Systems. Analyse the differences and implications of manual versus computerised accounting o Key Definitions and Terms – Gain a foundational understanding of crucial accounting terms and definitions o Journal Use and Voucher Importance in Banking Transactions – Learn about using journals and the role of various vouchers in bank accounting systems. Examine the accounting systems of different banks o Bank Reconciliation Statement – Introduction to the concept and importance of Bank Reconciliation Statements (BRS). Discuss the reasons for discrepancies between Cash Book and Pass Book and the preparation and advantages of BRS o Depreciation Accounting – Understand the meaning, causes, and need for depreciation. Study various depreciation methods, including Straight Line and Written Down Value, and their advantages and disadvantages. Learn about the amortisation of intangible assets and fixed asset replacement • Module B – Financial Statements of Banks o Introduction to Bank Financial Statements – Overview of banking business and associated restrictions. Detailed look at the bank's book-keeping systems o Advances and Asset Classification – Presentation and policy disclosures regarding advances. Deep dive into income recognition and asset classification o Bank Cash, Balances, and Short-Term Assets – Analysis of cash, RBI balances, and short-notice assets. o Fixed and Other Assets – Detailed examination of fixed and other asset presentations and policies o Borrowings, Deposits, and Capital Accounts – Insight into the presentation and analysis of deposits, borrowings, capital, reserves, and surplus o Liabilities, Provisions, and Contingent Liabilities – Understanding of other liabilities, provisions, and contingent liabilities o Investments and Profit and Loss Accounting – Exploration of investment presentations and profit and loss accounting o Disclosure Requirements and Consolidation – Comprehensive look at disclosure requirements and the consolidation of financial statements and branch accounts • Module C – Preparation of Financial Statements of Banks & Taxation o Final Accounts Preparation – Detailed guide on preparing final accounts for banks, including cash flow and funds flow statements o Management Information Systems and Financial Reporting – Exploration of MIS in banking and its impact on financial reporting o Accounting in a Computerised Environment – Discussion on the concept, advantages, and limitations of Computerized Accounting Systems o Taxation | Direct and Indirect Taxes – Introduction to direct and indirect tax concepts and their application in banking o Tax Provisions and Tax Planning – Detailed analysis of tax provisions related to Income Tax and GST and strategies for tax planning • Module D – Accounting Standards (Ind AS) o Scope, Statutory Provisions, and Compliances – Detailed exploration of Accounting Standards, including comparisons between US GAAP and IFRS o Applicability of Ind AS – Discussion on the applicability of Ind AS to banks, financial institutions, and corporates o Consolidated Financial Statements and Investment Accounting – In-depth look at consolidated financial statements, investment in subsidiaries, and standalone financial statements o Accounting for Joint Ventures and Disclosures – Insight into accounting for jointly controlled entities and disclosure challenges under Ind AS.
Author: Indian Institute of Banking & Finance
Publisher: Taxmann Publications Private Limited
ISBN: 9357788301
Category : Law
Languages : en
Pages : 20
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Book Description
This book is a comprehensive repository of regulatory changes across various banking verticals such as Credit, Retail, Digital Banking/IT, Treasury/Risk Management, Compliance, Rural Banking, Legal, etc. It also includes recent developments, speeches by RBI officials, and select articles from the IIBF journal 'Bank Quest'. The book positions itself as a valuable reference for banking and finance professionals, particularly those preparing for promotional exams and interviews. It will be beneficial for the entire BFSI fraternity. The Present Publication is the 3rd Edition, published exclusively by Taxmann, with the following noteworthy features: • [Transformation in Banking and Financial Services] o Addresses the digital transformation o Highlights how the banking functions have evolved to be information-driven and objective-focused • [Ecosystem Approach in Modern Banking] o Emphasizes the shift from a sectoral approach to an ecosystem approach in modern banks, which includes the provision of a wide range of financial solutions, hyper-personalized to meet rapidly changing customer expectations beyond core banking services • [Challenges for Banking Professionals] o Emphasizes the need for these professionals to stay informed and adaptable to both immediate and transitional changes • [Indian Banking Sector Evolution] o Discussion on the significant changes in the Indian Banking Sector over the last decade, providing insights into its evolution and current trends • [Role of IIBF] o Details IIBF's efforts in providing effective learning resources and training programs for banking and finance professionals • [Importance of Regulatory Awareness] o Emphasis on the necessity for professionals to be aware of and adapt to regulatory changes o Underlines the need for integrating the changes into regular banking operations Coverage of this book includes: • Regulatory Changes o Credit o Retail Banking o Digital Banking/Information Technology o International Banking o Treasury/Risk Management o Compliance o Rural Banking, Co-operative Banks, NBFCs and Differentiated Banks o Sustainable Finance • Legal/Regulatory Changes • Economic Changes • Other Developments in the BFSI Sector • Important Perspective/Developments in Banking & Finance • IIBF Learning Tree • Knowledge Series • Financial Snippets • Glossary of Banking Terms
Author: Anil K.Saxena
Publisher: Taxmann Publications Private Limited
ISBN: 9356227306
Category : Law
Languages : en
Pages : 41
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Book Description
This book is a practical & sequential guide for Bank Auditors for on-field issues. It guides the readers through the entire process of bank audits, supplemented with audit checklists. The objective of this book is to be solution-oriented to the practical pain points of the audit team. This book will be helpful for Statutory auditors of bank branches, bankers, articled assistants, etc. The Present Publication is the 6th Edition and has been amended upto 25th February 2023. This book is authored by CA Anil K. Saxena, with the following noteworthy features: • [Audit Check Lists & Procedures based on Authors' Experience] of over four decades to ensure that even a first-timer could efficiently carry out and document any banking assignment with ease together with complying with the relevant 'technical standards' • [Practical Tips, Documentation Guidelines & Easy to Use Templates] are provided in this book • [Practical Overview for Identification/Provisioning of NPAs] that will help audit teams take care of the most important aspect of any bank branch audit is given in this book • [Guidance on Agriculture Loans with Practical Templates] has been included in this book • [FAQs Based on Actual Practical Issues] covering the entire gamut of Branch Audits, are included in this book • [Complete Guidance on Finacle Transactions Codes] are included in this book • [Practical Examples for Complex Audit Procedures] has been included in this book to help audit teams execute and understand the audit procedures • [Regulatory Changes Made During the Year] has been incorporated to ensure that the audit teams are updated with the latest regulations • [Comprehensive Guidance] covering the following points: o Audit Report o Long Form Audit Report (LFAR) o Certification on ALM, Ghosh & Jilani Committee Recommendations o Stock Audits The structure of the book is as follows: • The Book has 19 Steps covering various stages of a bank branch audit • The book has 12 Appendix containing 11 templates which audit teams can use during their audits, including a comprehensive 'Audit Programme' and also a 'Pre Sign Off Checklist' • Footnotes at the end of each Audit Step containing important information are marked for the benefit of the readers • Footnotes at the end of each Audit Step containing important documentation advisory are also marked for the benefit of the readers • Each step has been named and styled in a manner which would help the audit teams to understand the content, thereof • Step 1 is styled as 'Appointment Letter Received – What Next? This guides the audit teams as to what they need to do after receiving the appointment letter • Steps 2 and Steps 3 not only discuss the importance of planning for the bank branch audit, but also give practical guidance along with necessary templates for execution and documentation • Step 4 takes the practical guidance to the readers a step ahead by asking Reached the Branch – What do I do? This step discusses exactly what members need to do on reaching the branch • All other steps in the book are similarly structured to help readers and audit teams not only understand the methodology but also execute the entire assignment with ease and perfection The contents of the book are as follows: • Step 1 – Appointment letter Received – What next? • Step 2 – Your backbone – Strong Planning • Step 3 – Back Office – Start Preparing • Step 4 – Reached the Branch – What do I do? • Step 5 – Balance Sheet Review • Step 6 – Statement of Profit & Loss • Step 7 – Identification of NPAs | A Practical Overview • Step 8 – Non-Performing Advances | Assessment of Provisions • Step 9 – Advances | Resolution of Stressed Assets • Step 10 – Advances | Restructuring Demystified • Step 11 – Frequently Asked Questions (FAQs) • Step 12 – Important Regulatory Changes during the year | RBI Circulars Summary and Highlights • Step 13 – Housing Loans • Step 14 – Audit of Agricultural Advances | Made Easy!! • Step 15 – Restructuring – Natural Calamities • Step 16 – IS Audit – Finacle | Guidance • Step 17 – Miscellaneous Guidance on Other Matters • Step 18 – Stock Audits: Guidance • Step 19 – Asset Classification: Summary of RBI Guidelines
Author: K. H. Spencer Pickett
Publisher: John Wiley & Sons
ISBN: 0470746939
Category : Business & Economics
Languages : en
Pages : 390
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Book Description
The Second Edition of The Essential Guide to Internal Auditing is a condensed version of the Handbook of Internal Auditing, Third Edition. It shows internal auditors and students in the field how to understand the audit context and how this context fits into the wider corporate agenda. The new context is set firmly within the corporate governance, risk management, and internal control arena. The new edition includes expanded coverage on risk management and is updated throughout to reflect the new IIA standards and current practice advisories. It also includes many helpful models, practical guidance and checklists.
Author: CA. Mohan R Lavi
Publisher: Taxmann Publications Private Limited
ISBN: 9357784772
Category : Education
Languages : en
Pages : 17
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Book Description
This book is a comprehensive exploration of auditing standards in India, focusing on the influence of the National Financial Reporting Authority (NFRA) on these standards. It discusses the decisions of the NFRA, providing a deep understanding of the practical application of auditing standards in the Indian context. Aimed at practitioners, academicians, and students, the book offers guidance, fosters informed discussions, and encourages adherence to high-quality auditing standards. The Present Publication is the Latest 2024 Edition, authored by CA. Mohan R Lavi. It is published exclusively by Taxmann for KSCAA. The noteworthy features of the book are as follows: • [Introduction to NFRA] The book opens with a detailed introduction to the NFRA, explaining its inception, objectives, and the significant impact it has had on enhancing the quality and reliability of financial reporting in India • [Detailed Analysis] Through meticulous analysis, the book discusses the decisions made by the NFRA, offering insights into how these rulings influence and shape the auditing standards and practices in India • [Practical Applications] By summarizing NFRA's decisions, the book provides practical insights into the application of auditing standards, aiding auditors, corporations, and students in understanding the nuances of compliance and reporting • [Regulatory Framework] Readers are guided through the regulatory landscape governing auditing in India, gaining a comprehensive understanding of the legal and professional frameworks that dictate auditing practices • [Global Context] The book also touches upon international auditing standards, providing a comparative analysis that highlights the global relevance and alignment of India's auditing practices • [Future Outlook] A forward-looking discussion on the future of auditing and the evolving role of regulatory bodies in ensuring financial integrity and transparency is a key focus toward the end of the book • [Expert Perspectives] Contributions from the author, who is a seasoned professional, enrich the narrative, offering readers a well-rounded perspective on the auditing field The detailed contents of the book are as follows: • About NFRA – An introduction to NFRA's role, objectives, and impact on financial reporting standards in India • NFRA Rules – Detailed examination of the rules and regulations established by NFRA and their implications for auditing practices • Summary of NFRA Orders – In-depth analysis and summaries of significant NFRA decisions affecting the auditing landscape • Financial Quality Review Reports – Insights into the quality review process and reports generated by NFRA, emphasizing their importance in maintaining audit quality • Audit Quality – Exploration of the concept of audit quality, standards, and measures within the Indian context, guided by NFRA's framework • Non-compliance with Accounting Standards – Discussion on the implications of non-compliance with accounting standards as observed in NFRA's orders • Reporting Frauds – Guidelines and discussions on the role of auditors in detecting and reporting frauds, based on NFRA's expectations and rulings • The Future? Speculative exploration of future trends, challenges, and opportunities in auditing standards and practices
Author:
Publisher:
ISBN: 9780769879017
Category : Auditing, Internal
Languages : en
Pages :
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Book Description
Author: Mr.Atilla Arda
Publisher: International Monetary Fund
ISBN: 1484375505
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
This paper takes stock of external audit arrangements at central banks. Its focus is on the annual audit of central bank financial statements, as well as legal and institutional measures that support audit quality and independence. The paper outlines good practices in these areas and provides a summary of actual practices observed based on a review of audited financial statements and central bank legislation. While the audit frameworks for central banks differ depending on their legal and institutional circumstances, central banks’ external audits increasingly follow international standards. Most of them are audited by auditors with international affiliations and embrace modern governance structures that provide for audit oversight. However, the paper also notes that a sizeable number of central banks do not publish the audit results in a timely manner, which leaves room for improvement in transparency practices.
Author: Bob Walsh
Publisher: CreateSpace
ISBN: 9781518662805
Category :
Languages : en
Pages : 200
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Book Description
This Handbook is a must for Anti-money Laundering (AML) professionals!The material presented serves as a practical guide for those whose work involves auditing, internal controls and compliance associated with AML and Know-Your-Customer (KYC) laws, rules and regulations.The following subject areas comprise the essential components of a sound, well-rounded AML compliance program.* Review of audit and controls* AML regulatory compliance requirements* "Know-your-customer" (KYC) procedures* Currency transaction reporting (CTR) processing* Structuring of transactions* Foreign Corrupt Practices Act (FCPA)* Office of Foreign Assets Control (OFAC)* Correspondent relationships* Wire transactions* "Red-flag" suspicious transactions* Transaction monitoring practices* Due-diligence research* SARs processing* Terrorist organizations* Case studies* AML/KYC acronyms.The information presented within by Bob Walsh has been compiled from decades of in-depth, hands-on experience in the field of Anti-money Laundering. This includes working with some of the largest domestic and international banks, AML/KYC consulting agencies, Federal Bureau of Investigation, and the Federal Reserve Bank of New York in addressing major AML/KYC cases.
Author: K. H. Spencer Pickett
Publisher: John Wiley & Sons
ISBN: 0470518715
Category : Business & Economics
Languages : en
Pages : 1091
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Book Description
The first edition of The Internal Auditing Handbook received wide acclaim from readers and became established as one of the definitive publications on internal auditing. The second edition was released soon after to reflect the rapid progress of the internal audit profession. There have been a number of significant changes in the practice of internal auditing since publication of the second edition and this revised third edition reflects those changes. The third edition of The Internal Auditing Handbook retains all the detailed material that formed the basis of the second edition and has been updated to reflect the Institute of Internal Auditor’s (IIA) International Standards for the Professional Practice of Internal Auditing. Each chapter has a section on new developments to reflect changes that have occurred over the last few years. The key role of auditors in reviewing corporate governance and risk management is discussed in conjunction with the elevation of the status of the chief audit executive and heightened expectations from boards and audit committees. Another new feature is a series of multi-choice questions that have been developed and included at the end of each chapter. This edition of The Internal Auditing Handbook will prove to be an indispensable reference for both new and experienced auditors, as well as business managers, members of audit committees, control and compliance teams, and all those who may have an interest in promoting corporate governance.
