Empanelment
This query is : Resolved
Sunil Sharma
(Querist)
09 November 2013
Can anyone please let me know the process of getting a CA firm empaneled with the RBI.
Shriram Gupta
(Expert)
10 November 2013
If you are asking for Banks Statutory Audit purpose then there is no such procedure to directly empanel CA firm with RBI..
Every year CA firms have to submit MEF (multipurpose empanelment form) which is used for bank statutory audit purpose..
The ICAI our institute verifies the data submitted by CA firms and after due verification makes available the list of CA firms to RBI which in turn makes it available to banks willing to appoint statutory auditor for their branches...
Earlier there was a procedure that RBI will allot the statutory bank audit but since few years they have done away with this process and only work as a holder of information...
There can be other ways for empanelment with RBI for other purposes also...
Every year CA firms have to submit MEF (multipurpose empanelment form) which is used for bank statutory audit purpose..
The ICAI our institute verifies the data submitted by CA firms and after due verification makes available the list of CA firms to RBI which in turn makes it available to banks willing to appoint statutory auditor for their branches...
Earlier there was a procedure that RBI will allot the statutory bank audit but since few years they have done away with this process and only work as a holder of information...
There can be other ways for empanelment with RBI for other purposes also...
Sunil Sharma
(Querist)
10 November 2013
Ok. So now does the RBI provide a comprehensive list of all the empaneled CA firms to all the Banks or does the RBI allocates CA firms among the Banks (i.e. PSB's).
Shriram Gupta
(Expert)
10 November 2013
The list is available to all the banks as a whole... Its their discretion to allot the work to CA Firms... RBI does not take the job of allotting or allocating CA firm among PSBs...
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