Auditing: Principles and Techniques

Chapter 12

Audit of Banks

CHAPTER OUTLINE

12.1 Introduction

12.2 An Overview of Banking Institutions in India

12.3 Legislation Relevant to Audit of Banks

12.4 Approach to Bank Audit

12.5 Stages in Audit of Banks

12.6 Audit Procedures

12.7 Advances

12.8 Income Recognition

12.9 Bank Audit Report

12.1 INTRODUCTION

A well-organised and efficient banking system is a pre-requisite for economic growth. Banks play an important role in the functioning of organised money markets. They act as a conduit for mobilising funds and channelising them for productive purposes. The Indian banking system, like the banking system in other countries, has played a significant role in the economic growth of the country. In order to meet the banking needs of various ...