Meaning of Related Parties Related Party means :- 1) A related party as defined in the applicable financial reporting framework For Example :- As per Section 2(76) of The Companies Act 2013, […]
Audit - 2. page
Summary of SA 299-Responsibilities of Joint Auditors
Responsibilities of Joint Auditors Note: – This SA shall does not deal with the relationship between a principal auditor & the auditor of components of an entity. Joint […]
Disclosure (Pillar 3)
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)
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)
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)
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
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)
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
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
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 […]