AASB of ICAI Announces the Launch of Online Panel of Experts for Addressing Bank Branch Audit-Related Queries for FY 2024-25
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- Last Updated on 3 April, 2025
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The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has announced the launch of an Online Panel of Experts to assist members with bank branch audit-related queries for the financial year 2024-25. In response to recent regulatory updates from the Reserve Bank of India (RBI), including revised Basel III capital regulations, prudential norms for income recognition and asset classification, and financial disclosure requirements, the panel will provide guidance from April 1 to April 15, 2025. Given the complexity of bank audits, members often face challenges such as determining Non-Performing Asset (NPA) status, interpreting RBI circulars, and preparing audit reports. To facilitate timely resolution of such issues, members can submit queries via email, with responses reflecting the personal views of experts rather than the official position of ICAI. The announcement also outlines guidelines for submitting queries while emphasizing that the panel’s advice should not be used as evidence in legal or regulatory proceedings.
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