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Off-site Audit

Off-site Audit :

Banks should setup proper offsite monitoring cell (OSM) in audit department or put in place suitable similar structure. Such cell should review the MIS on critical items and sensitize the controlling offices and the branches, for corrective action on daily basis. The OSM cell should also apprise the Top Management of serious irregularities, if any, immediately. The Banks should move to software based audit process.

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