CA NeWs Beta*: Concurrent Audit of Central Bank Of India - Beware Bank is using old MEF data as on 01/01/2011, not 01/01/2012

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Saturday, December 15, 2012

Concurrent Audit of Central Bank Of India - Beware Bank is using old MEF data as on 01/01/2011, not 01/01/2012

Hi All
 
Today I was trying to apply for central bank concurrent audit through online. Though  my firm Firm H R KOPPAR & CO is having category 3 as per MEF for CY as on 01/01/2012, online application form of bank says we are not qualified .
 
When I raised this issue through E sahayatha 3 days back, They have replied today that they are still in process of finalising MEF list for CY. Banks are using data of last year.It means firms which have status as on 01/01/2012 is not qualified. So banks are using data as on 01/01/2011 for appointment of concurrent audit from 01/01/2013. So outsiders (banks ) are having data base which are 2 years old. SO STUPID
 
So my query is
 
1. Whom we need to blame this delay in sharing database - ICAI or Banks? Many Banks ask  firms status as on 01/01/2012 for appointment, but they will use MEF as on 01/01/2011. This is  we realised ONLY when online application asked for appointment & your firm will have tag line _ Disqualified.
 
2. Sometimes, we will not get any intimations or are not qualified for many audits inluding concurrent audit( rather same old firm will get them)  Reason may be they will have 2 years old data base with them supplied by ICAI. So is it intentional one OR what is rational in this?
 
3. When everything is REAL TIME UPDATE, why MEF Is not finalised when we are in DECEMBER (almost compeletion of year).? Now each one of us know how ICAI is having updated database with them about members & firms. This is reason why ICAI Is not taking action on 44AB culprits or Bogus Firms? They have 2 years data & they know that they cannot spell it outside
 
 
Anybody who have change of category in their MEF as on 01/01/2012 compare to 01/01/2011 can try to see above things by applying online
 
With warm regards,
 Professionally Yours,

CA. Chikkerur Chidambar R |  B.com, MBA, CA, DISA & LLB|
CHARTERED ACCOUNTANT
Kamala Nilaya| # 30 | Ground Floor |18th Main | Vijayanagar | Bangalore - 560 040 | India |
Mobile - 98443-17480, Phone- 080-23154952

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