One of the CA firms carrying out concurrent audit has been changed by UCO Bank for reporting fraud. The member of the firm has reported the following:
"
OUR
FIRM HAS REPORTED MANY CASES OF FRAUD DETECTED IN CONCURRENT AUDIT AS
"LOANS GIVEN ON FALSE DOCUMENTS". NOW THEY HAVE SIMPLY CHANGE THEIR
CONCURRENT AUDITOR AS THEY DONT WANT SPECIAL OBSERVATION LETTER."