The recent instances of scams in public sector Banks make one admonish the audit processes and practices in many Banks. The number of fraudulent instances are rising and it has become a norm to highlight the deficiency in software systems rather than accepting
internal flaws, recheck the internal controls, operational processes, audit, operational/credit risk processes implemented in many Banks.
With the extent of technology advancement, each and every business processes, regulations and compliances are expected to be available through the different software solutions which are implemented/deployed in Banks. These are the accounting software, business
operation and process software, fraud/ risk based software, regulatory and compliance software, reporting software used by…
