Audit in the Banking Sector

Bank Audit is the process of reviewing and summarizing the services, systems, financial statements of a bank or any other financial institutions in a report form. The major objective of such an audit is to ensure that the institution is operating as per the rules and regulations.

Here are a few that a bank audit will check within a financial institution:

  1. Security and risk management, including IT and cyber risk
  2. Liquidity and monetary flow
  3. Financial transactions
  4. Financial and regulatory reports
  5. Compliance with Banking laws and regulations.
  6. Any evidence of violations, money laundering, fraud etc.

We, at GDK & Associates, provide the services of:-


We have been the concurrent auditors for various nationalized, cooperative and private sector banks.

The scope of such audit includes verification, on a daily basis, of all transactions entered into by the bank branch with special emphasis on foreign exchange transactions, monitoring the end-use of funds by corporate borrowers, etc. and undertaking physical verification of inventories hypothecated to the bank on a periodic basis.


The scope of inspection audit mainly consists of thorough inspection of the borrowers’ books of accounts, position of stock, assets hypothecated etc. Also, revenue audits of various branches of nationalized banks have been handled by us.


We have been appointed as External (Statutory) Branch Auditors of the various nationalized banks and DCCB & RRBs and Statutory Auditors of various Government Companies and PSU’s.