Mumbai, March 21 -- The independent professional firm will also assess the correctness and impact of the accounting treatment of the derivative contracts with regard to the prevailing accounting standards/ Guidance, identify any lapses and establish accountability in relation to the discrepancies identified in the bank's derivative portfolio.

On March 10, the private bank had made a public disclosure, informing about certain discrepancies identified by the bank, in its account balances relating to its derivative portfolio.

The discrepancies observed were a part of the ongoing review by an external agency.

The bank further stated that once the review is completed, it will appropriately reflect any resultant impact in its financial state...