CORAA automates the most complex and time-consuming NBFC audit procedures, from IRACP NPA testing to interest income reversal verification, all from a single Tally data import.
RBI regulation layered on top of the Companies Act.
NBFC audits require both banking expertise and deep regulatory knowledge, and every classification call has direct P&L impact.
RBI IRACP
NPA classification
RBI's Income Recognition and Asset Classification and Provisioning norms require precise NPA staging based on days past due. Manual classification across thousands of loan accounts is error-prone and time-consuming.
Provisioning
Materiality at stake
Each NPA category (Sub-Standard, Doubtful 1/2/3, Loss) carries different provisioning rates. Even a small misclassification has a material impact on the P&L and capital adequacy ratios.
Income recognition
Interest income reversal
For NPA accounts, interest must be reversed from income and credited to a suspense account. Verifying this across a large portfolio requires cross-referencing ledger entries against the NPA status for each account.
RBI returns
Form reconciliation
NBFC returns filed with RBI (NBS-1, NBS-2, etc.) must reconcile with audited financial statements. Discrepancies trigger RBI queries, identifying them before filing requires tedious manual cross-referencing.
How Coraa addresses them
One Tally import. every loan account in scope.
Automated ledger scrutiny across all loan and deposit accounts
GST and TDS reconciliation for fee income and expense accounts
Bank reconciliation across multiple accounts simultaneously
Interest income verification, earned vs received vs reversed
Provisioning calculation cross-check against IRACP norms
Related party loan and deposit identification and testing
Vouching with AI-assisted document matching
100% transaction coverage, no sampling gaps
Working papers generated automatically with full audit trail
NFRA-ready documentation for listed NBFC clients
How it works
From Tally import to exception review.
Step 01
Import Tally data
Export the client's Tally data and upload to Coraa. One-time setup per engagement. All loan, deposit, income, and expense ledgers are imported together.
Step 02
AI runs all procedures
Ledger scrutiny, reconciliations, NPA indicator screening, interest verification, related party flagging, all run simultaneously in minutes.
Step 03
Review and sign off
Coraa generates an exception queue and pre-populated working papers. Your team reviews exceptions, adds conclusions, and signs off.
Start your first NBFC audit
Run your first NBFC engagement on Coraa.
Free 14-day trial. No credit card. India-hosted. DPDPA compliant.
