Scope of work, lender-appointed investigation
The single most important change for this practice is that a forensic audit is no longer automatic on a red flagged account, the bank investigates through either an external audit or its own internal audit, according to its Board-approved policy, so before you assume an engagement exists, read the bank's policy.
- 3 pages
- 39
- Word and PDF
- 13 September 2026
What it covers
- 1Scope of work, lender-appointed investigationannexure to the bank's appointment letter
Read the opening
The first part of the format, as it downloads. Blanks are highlighted.
Scope of work — investigation of a red flagged account
[Bank name] · [Branch / Stressed Assets Vertical]
Borrower: [Borrower name], CIN [CIN] · Total exposure: Rs [00.00] crore
Date of RFA flagging: [Date of RFA flagging] · Date of CRILC reporting: [Date of CRILC reporting]
Scope period: [1 April 20XX to 31 March 20XX]
1. Appointment and status
1.1 [Name of the firm], Chartered Accountants, is appointed by [Bank name] [in its capacity as lead bank of the consortium of lenders listed at Schedule A, pursuant to the decision of the joint lenders' meeting held on [date]] to carry out an investigation into the affairs of the Borrower to the extent set out below.
1.2 The Bank is our client. The Borrower is not our client notwithstanding that our fees are recoverable from the Borrower under clause [Sanction letter clause for recovery of fees] of the sanction letter dated [Date of the sanction letter]. We will report to and take instructions from [name, designation] of the Bank and from no other person.