The Reserve Bank of India (RBI) has revised the Long Form Audit Report (LFAR) vide notification dated 5 September, 2020 which shall be applicable for Bank Audits from F.Y. 2020-21 onwards. The changes in new LFAR, 2020 have been made in respect of requirements for Statutory Central Auditor, Branch Auditor, Specialized Branches and Large/ Critical/ Irregular accounts for branch auditors.The Reserve Bank of India (RBI) has revised the Long Form Audit Report (LFAR) vide notification dated 5 September, 2020 which shall be applicable for Bank Audits from F.Y. 2020-21 onwards. The changes in new LFAR, 2020 have been made in respect of requirements for Statutory Central Auditor, Branch Auditor, Specialized Branches and Large/ Critical/ Irregular accounts for branch auditors.taxmann.com NewsRead More
