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Compliance Audit (Study Material)
What is Compliance Audit?
is the independent assurance mechanism that verifies whether the bank is following every applicable law, RBI direction, internal policy and disclosure norm in letter and spirit.
The Banking Regulation Act, 1949?
Sec 29 (form of accounts), Sec 35A (RBI directions), Sec 56 (co-op banks).
The Companies Act, 2013 + Companies Rules, 2014?
Governance, audit and disclosure norms applicable to banking companies.
Indian Accounting Standards (Ind AS / AS)?
Notified under Companies (Accounting Standards) Rules, 2006 / 2021.
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