Bank Audit

Disclosure (Pillar 3) : Pillar 3 aims primarily at disclosure of a bank’s risk profile and capital adequacy. It is recognised that the Pillar 3 disclosure framework does not conflict […]

ICAAP process (Internal Capital Adequacy Assessment Process) :   The objectives of Internal Capital Adequacy Assessment Process (ICAAP) process are as follows: (i) Create a transparent and consensual general framework […]

Business Environment and Internal Control Factors (BEICFs) Over a time, the process and the outcomes of BEICFs should be validated through comparison to actual internal loss experience, relevant external data, […]

Qualitative Standard for Operational Risk Management System (ORMS) : A bank should have techniques for allocating operational risk capital to business lines, among various legal entities and across the banking […]

Essential Data Elements of an AMA Model : A bank should include in its ORMS the use of the following four AMA elements:  internal data;  relevant external operational […]

Capital to Risk-weighted Assets Ratio (CRAR) The RBI requires banks to maintain a minimum CRAR of 9 per cent on an ongoing basis. The Master Circular on Capital Adequacy contains […]

Capital – What Constitutes Tier 1 and Tier 2 – a Representative Sample   The Master Circular on Basel III Capital Regulations discusses the capital funds in two categories – […]

Board Oversight : The board of directors and senior management of each subsidiary/overseas branch should be responsible for conducting their own assessment of the subsidiary’s/overseas branch’s operational risks and controls […]

Branch Service Tax General  Whether the branches have followed the proper procedure? If any discrepancy is noticed by the branch auditor, the same has been properly considered at the […]

FATCA /CRS Foreign Account Tax Compliance Act (known in short as FATCA) is a legislation to counter tax evasion in the United States of America (USA) FATCA was introduced by […]