PDC Comment on Bank Audit for 2011-12

" We would like to inform that like every year, this year also we have forwarded the Bank Branch Auditors’ Panel for the year 2011-12 to Reserve Bank of India with association details of each of the empanelled applicant in Bank Branch Auditors’ Panel. The said panel was classified into following three lists by RBI :-   List-1   1. List of auditors stationed at cooling period ( applicable to 33 centres viz., Mumbai, Kolapur, Pune, Solapur, Thane, Kolkata, Chennai, Coimbatore, Delhi/New Delhi, Ajmer, Bikaner, Jaipur, Kota, Udaipur, Ahmedabad, Vadodara, Surat, Hyderabad, Chandigarh, Raipur, Faridabad, Gurgaon, Panchkula, Panipat, Sonipat, Bangalore, Ernakulam, Indore, Nagpur, Ludhiana, Jodhpur, Bhilwara and Ghaziabad.) of two years after completion of their cycle of 4 years of branch statutory audit – this list was not forwarded to any of the banks.   List-2 2. List of continuing auditors who have yet to complete their cycle of 4 years of allotment of bank branch statutory audit – this list was forwarded by RBI to respective banks.   List-3 3. List containing balance names has been forwarded to all the Public Sector  Banks to select their branch statutory auditors.  This implies that such applicants have got an equal chance of selection as branch statutory auditor with all the 25 public sector banks.   You are, therefore, requested to determine your status accordingly. Further we may inform that ICAI has got no role in selection of auditors and allotment of audits thereof.  Professional Development Committee is only acting as a facilitator so that no undue hardship is met to any of the members."

 

 

With kind regards
Professional Development Committee Secretariat
The Institute of Chartered Accountants of India,
'ICAI BHAWAN',
Post Box Number 7100,
Indraprastha Marg,
NEW DELHI - 110 002.
India
Telephone - Direct +91 11 30110444
Telephone - Board +91 11 39893989 Extn: 444
Fax: +91 (11) - 30110583
Website: www.icai.org