HI WHETHER MEF REGISTRATION IS REQUIRED FOR CONCURRENT AUDIT AND PROPERTIORSHIP FIRM ESTABLISHED SINCE 2006 CAN APPLY FOR IT ???????
ASHISH JAIN
(STUDENT)
(240 Points)
Replied 07 April 2011
Dear....as per my knowledge, concurrent audit of banks can be conducted by any person appointed by the concerned bank and not necessarily by chartered accountants, rather it can be a internal team within the bank also......its a kind of internal audit..
therefore in ur case, i am of the view that as this audit aims to find internal irregularities and not in the nature of Stat audit, it does not need empanelment, so no need of MEF Registration, the proprietorship firm can do the concurrent audit if it is appointed by bank....there is no issue of year of establishment.
These are my personal views, you should also confirm it from other people.
I hope it had helped u.
ALL THE BEST!!
CAclubindia
