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In order to enable selected NBFCs/UCBs/HFCs add additional best practices to be followed by the bank’s internal audit team, the Institute of Chartered Accountants of India (ICAI) issued an updated version of the Technical Guide on the risk-based internal audit in banks (the technical guide).

The technical guide gives a brief overview of the steps to be undertaken in risk-based internal audit such as – identification of auditable units, conducting risk assessment, planning risk-based internal audit, etc.

It also explains the factors that would be considered while conducting internal audits – functional independence, communication channels and performance evaluation.

To access the text of the technical guide, please click here

Considering the evolution of the IT software industry, owing to adoption of cloud services, rise of Artificial Intelligence and Machine Language, etc., recently ICAI issued an updated version of the Technical Guide on internal audit of IT software industry (the technical guide).

The technical guide provides comprehensive guidance on various issues involved in the internal audit of IT software industry to assist internal auditors in discharging their professional responsibilities.

To access the text of the technical guide, please click here

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