Bank Audit :

The huge amount of public monies handled by the banks, make it imperative that the activities of the industry are closely monitored and regulated without strangulating the spirit of entrepreneurship. Audit forms an integral and important part of such monitoring and regulation. The Auditors have to certify that statement of accounts of the bank as at the closure of the financial year reveal true and fair view of the Bank’ financial position, adequate provision for Non-Performing Asset(NPA)/bad debts has been made in the books. All expenses/income have been duly accounted for and profit is correctly worked out. The Banking Regulation Act, 1949 contains the provisions relating to the maintenance of accounts and their audit.