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      Question

      The "Long Form Audit Report" (LFA

      • R is reviewed by:
      A The HR Committee Correct Answer Incorrect Answer
      B The Audit Committee of the Board (ACB) Correct Answer Incorrect Answer
      C The Customer Service Committee Correct Answer Incorrect Answer
      D The IT Strategy Committee Correct Answer Incorrect Answer
      E The RBI Regional Director directly Correct Answer Incorrect Answer

      Solution

      The ACB reviews the LFAR to assess the bank's internal control and financial health. It is submitted by Statutory Auditors to assess gaps in bank operations, risk management, and compliance

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