Banking · Automated Data Flow

Consider the following statements regarding 'Accounting in Computerized Environment' and the transition to 'Automated Data Flow' (ADF). The RBI has mandated that banks move towards a system where regulatory returns are generated directly from the bank's source systems without any manual intervention. Statement I: The ADF framework requires a centralized data repository, often a 'Data Warehouse', that aggregates data from the CBS and other peripheral systems to ensure a single version of the truth. Statement II: Manual adjustments to the data before it is sent to the RBI are strictly encouraged to ensure that any temporary system errors are corrected by experienced bank staff. Statement III: 'Straight Through Processing' (STP) is a key requirement of ADF, as it ensures that the transaction data flows from the point of origin to the final regulatory report with minimal human touch. Statement IV: The use of 'XBRL' (Extensible Business Reporting Language) is the global standard adopted by RBI for the electronic communication of business and financial data under the ADF framework. Statement V: ADF eliminates the need for internal audit, as the automation itself guarantees that the data submitted to the regulator is 100 percent accurate. Which of the statements given above are correct regarding the ADF framework?