AASB of ICAI Issues 2025 Edition of Guidance Note on Audit of Banks

The Auditing and Assurance Standards Board (AASB) of Institute of Chartered Accountants of India (ICAI) has issued the 2025 Guidance Note on Audit of Banks, a must-have resource for auditors navigating the evolving banking landscape. This updated edition aligns with the latest regulatory and accounting changes, providing practical insights and structured guidance. Split into two sections, it covers Statutory Central Audits, featuring audit report formats, engagement letters, and financial statement guidance, and Bank Branch Audits, focusing on NPA verification, asset-liability checks, and RBI compliance. Packed with RBI circulars, FAQs, and audit programs, this guide ensures auditors uphold transparency, accuracy, and high-quality financial reporting

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