The New Auditor’s Report Format for Bank Audits as Given is SA700 Forming an Opinion and Reporting on Financial Statements has been given for preview and Download. You can Download the File at the End of the article.
An Illustrative Format of Report of the Auditor of a Nationalised Bank
The Statutory Central Auditors
Report On The Financial Statements
1. We have audited the accompanying financial statements of XY Bank as at 31st March, 2XXX, which comprise the Balance Sheet as at March 31, 2XXX, and Statement of Profit and Loss and the cash flow statement for the year then ended,
Management’s Responsibility for the Financial Statements
2. Management is responsible for the preparation of these financial statements in accordance with XYZ Law of India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.
3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require
4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
6. In our opinion, as shown by books of bank, and to the best of our information and according to the explanations given
(i) the Balance Sheet, read with the notes thereon is a full and fair Balance Sheet containing all the necessary particulars,
(ii) the Profit and Loss Account, read with the notes thereon shows a true balance of profit/loss, in conformity with
(iii) the Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
7. The Balance Sheet and the Profit and Loss Account have been drawn up in Forms “A” and “B” respectively of the Third
8. Subject to the limitations of the audit indicated in paragraph 1 to 5 above and as required by the Banking Companies
(a) We have obtained all the information and explanations which to the best of our knowledge and belief, were necessary
(b) The transactions of the Bank, which have come to our notice have been within the powers of the Bank.
(c) The returns received from the offices and branches of the Bank have been found adequate for the purposes of our
9. In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement comply with the applicable
For ABC and Co.