Practical Approach For Review and Audit of Digital Banking Services.

What is a Bank audit?

It is a procedure performed by an auditor appointed by RBI and ICAI to verify the financial statements of the banking institutions and to verify whether the bank is complying with the applicable regulatory framework or not.

It is not something which you will regularly undertake all the days of a year. Instead, for most of the auditors and audit firms, it's a one-time exercise in a year and as a result, knowledge level on the critical areas for most of the auditors will be limited.

So, several auditors and audit firms have to update themselves with the latest guidelines and provisions applicable by attending various seminars and by reading various publications.

However, many have felt the need for a one-shot course on Bank Audit and they wanted it to be handy, available in an app or website so they can prepare themselves for the audit upfront and during the course of the audit, they can refer to guidance materials.