News about Bank Branch Audit (PSU) for Fy 2012-13
Today past presidenent ICAI CA.Amarjit Chopra informed that,
Today past presidenent ICAI CA.Amarjit Chopra informed that,
List of various firms to be allotted statutory branch auditors by banks has been forwarded to banks by RBI yesterday with threshold limit as 20 crores.Number of branch audits to come down drastically
Further, I've talk to couple of Council members in this regard. They have also confirmed this news.
The news was known to Council members before 20 days. However, we became aware about this only because of communication from CA.Amarjit Chopra.
It was learnt that, the matter is went too much ahead now, as the list were already forwarded by RBI.
The Council members are trying to reduce the limit as it was successfully done last year.
However, this time its too much late and there are very less possibilities to change/reverse this decision.
Regards,
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CA.C.V.PAWAR
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CA.C.V.PAWAR
0253-2319641. M-9423961209
very disappointing news
ReplyDeleteWhat we can do -- small practioners like us suffer
DeleteIf there is a reduction in the number of branches -
ReplyDelete-- does it mean that those whose term of 4 years expired shall not get fresh offer from other banks
---presently the panel of any particular bank include few category 1 , more category ii , category iii more than ii and larger no of category iv audit firms - will there be a reshuffle adversly affecting category iv firms ( note that these firms have given irrevocable undertaking )
Kindly let us know your views on the above
To ALL my CA Friends:
ReplyDeleteABOUT BANK BRANCH AUDITS.
I WANT TO KNOW THE VIEWS OF OUR SITTING & JUST ELECTED CENTRAL COUNCIL MEMBERS:
I assume that all the Central Council Members-ELECT and all the Regional Council members-ELECT are in complete knowledge of sensitivity of issue of Empanelment & Allotment of Bank Branch Audits.
Recently, I learned from some of my CA Friends that the thresh hold for current year PSU Bank Branches to be audited is fixed at Rs. 20 CR. and the same seems to have been accepted by our Sitting Council as well as all the Council Members-Elect, both at regional and central level. I do not have any issue with that, as it is the decision taken by other authorities and not ICAI.
My suggestions in the matter are:
All the firms in which an Elected Central/ Regional Council member is a Partner or a full time Employee or an Associate should voluntarily withdraw from the Panel to ensure the advantage reaching to Small Firms and Young Chartered Accountants.
All the Firms having more than 10 partners OR all the Firms having Turnover in excess of Rs. 2 CR. should not be considered for such Allotment other than Central Statutory Audit of a PSU bank.[MY FIRM WOULD DISQUALIFY]
The definition of Categories may be changed in such a way that small firms & Young CAs get maximum allotment.
I WOULD LIKE to have response from those who showed MOON to members during Election Campaign.
CA. DURGESH BUCH.
Very disappointing news.We r silent observers.
DeleteI REQUEST ALL THE MEMBERS TO NOT TO VOTE ANY OF THE EXISTING COUNCIL MEMBERS OR THEIR SUPPOTERS/ ASSOCIATS IN ANY BRANCH/REGIONAL/OTHER ELECTIONS AND ALSO ASK HARSH QUESTIONS WHEN WE MEET THEM.
DeleteORDINARY CA
ITS RIGHT SIR......
DeleteI LIKE YOUR THIS OPINION.
I Fully agree with your opinion.... But it is a truth that no one thinks about profession...
Deletewhats the final position now will category 4 get work or not?
ReplyDeleteno
ReplyDeletedont waste time for waiting branch audit EMAIL or POSTMAIL..its confirm the limit of 20cr and in next yr 50cr and thereafter 100 cr after that only head office book will be audited..
ReplyDeleteThreshold limit is a threat as well as limitation to practitioners who are majority in point of number and have to be satisfied to be in the panel of a microscopic minority.
ReplyDeleteThe path of survival, experience apart, is the path of combination and isolation is the road to destitution.
Walls of democracy have been knocked down over night keeping the majority to be content with their absolute voting right.
From : A member in practice for more than four decades.
As per the information provided by Central Statutory Auditor of one of Nationalised Banks, the allotments are expected to be made within next 10-15 days. Category II, III & V firms will received 1-2 branches and Category 1 firms will receive 2-3 branches.
ReplyDeleteall firms empanelled with rbi will get the audit?
DeleteFrom where one can view the bank wise list of various firms to be allotted statutory branch auditors by banks already forwarded to banks by RBI in January'2013
ReplyDeleteAppointment letter received...
ReplyDeleteFor which category & how many branches?
DeleteCat IV 2 branches
Deletewhich bank
Deletehow to check the status?
ReplyDeletetill date no link
ReplyDeleteWhy should RBI fix the parameter based on advance. What about deposit branch? Why should nobody ask question about deposit, and major loss of small branches, RBI fix the base norms based on Deposit, Advances and Loss compartive for previous two years.
ReplyDeleteMr. S Senthilraj
ReplyDeleteVery simple! RBI is concerned on advances becuase it is bank money. It is not concerned on deposits because it is public money.
Any one recd appointment letter?
ReplyDeleteI got 2 branches- One is above 20 Cr.and another below 20 Cr.My category is IV.I am not disclosing name of the Bank.
ReplyDeleteIs there any way to find whether firm is under cooling period or not
ReplyDeleteWhen will be RBI host the list of SBA for 2012-13
ReplyDeletehttp://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=1965
ReplyDeleteList of SBA allotment of all Banks
the above link is not available at rbi web...?
DeleteCopy and paste the link on your web browser.Then click go.Link is working
Delete