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Krishna Prasad (Partner) (260 Points)

30 May 2015

I AM A PARTNER IN A FIRM FOR THE LAST 6YEARS AND SIGNED 3YEARS BANK AUDIT REPORTS. NOW I WANT TO COME OUT AND SETUP OWN PRACTICE BY ESTABLISHING A PROPRIETORY CONCERN. CAN I GET THE BANK AUDIT? WHETHER 3 YEARS SENIORITY SHALL COUNT FOR THE PROPRIETORY FIRM EVEN THOUGH THE PROPRIETOR IS HAVING MORE THAN 3 YEARS EXPERIENCE? PL ADVICE. ANOTHER QUERY IS CAN I APPLY FOR BANK AUDIT IN MY INDIVIDUAL NAME? PL ADVICE

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Sathish M (Management Accountant) (40581 Points)
Replied 31 May 2015

If you are going to setup your own practice as an individual, your firm shall not get seniority as of today, as your firm was not in existence three years back. Yes, you can apply for Bank Audit in individual name, but getting audit as an individual or proprietor is remote. Even in case you are allotted after some time, the branch location may be of some moffusil town or city and not that highly remunerative too.